Mega's chief executive doesn't think the seizure of 20 per cent of the company's shares will cause problems for its backdoor listing on the New Zealand stock exchange.
Mega, an encrypted online storage service launched by Kim Dotcom last year, announced in March that it was looking to do a backdoor listing via NZX-listed TRS investments.
Under the terms of the deal that was unveiled at the time, TRS will acquire all of Mega's shares for $210 million and Mega's shareholders will be issued 700 million new TRS shares.
Mega this month pushed out a deadline to get TRS shareholder approval for the deal until the end of October.
It was revealed today that almost 20 per cent of the shares in Mega has been seized by authorities who raided the home of a multimillionaire businessman allegedly involved in money laundering.