Mega raises $7.5 mln as new shareholders take majority control

Thu, 13 Aug 2015

By Paul McBeth Aug. 12 (BusinessDesk) - Mega, the file storage and encryption firm, has raised $7.5 million, giving two relatively new shareholders majority ownership after recent accusations from its estranged founder Kim Dotcom claiming the company suffered a hostile takeover by a Chinese investor through a number of straw-men. Beijing-based Li Zhi Min, who bought a cornerstone stake in Mega from Shen Zhao Wu in July, now owns 43 percent of the company after buying 304,530 shares at $13.135 apiece on July 29, while Yang Jianhong, joined...

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