HashKey Eyes $200M IPO — On Track To Become Hong Kong Most Valuable Crypto Company

Key Takeaways

• HashKey Holdings could debut connected the Hong Kong Stock Exchange arsenic soon arsenic this month.

• The crypto speech relation is looking to rise astatine slightest $200 cardinal successful its IPO.

• HashKey is expected to go 1 of Hong Kong’s astir invaluable listed crypto companies.

HashKey Holdings is preparing to commencement taking capitalist orders for its archetypal nationalist offering (IPO) connected the Hong Kong Stock Exchange arsenic aboriginal arsenic adjacent week, according to sources cited by Bloomberg connected Friday, Dec. 5.

The institution reportedly hopes to rise astatine slightest $200 cardinal and whitethorn implicit the listing earlier the extremity of the month.

Assuming it reaches its IPO target, Hashkey volition go 1 of Hong Kong’s astir invaluable listed crypto companies, joining the ranks of Meitu, OSL Group, and DMall, which each person a marketplace capitalization exceeding $1 billion.

The Hong Kong Stock Exchange has hosted respective multi-billion-dollar IPOs this year, with CATL, Zijin Gold International, and Horizon Robotics raising astir $14 cardinal betwixt them.

Among integer plus companies, OSL Group gets recognition for the biggest equity raise, issuing caller banal worthy $300 cardinal successful July.

Now, HashKey is connected people to instrumentality the crypto IPO crown.

While the precise details of HashKey’s offering aren’t yet known, HashKey archetypal achieved unicorn presumption successful 2024, erstwhile it raised $100 cardinal from backstage investors.

When Gaorong Ventures injected different $30 cardinal successful February this year, HashKey’s valuation remained astir the aforesaid astatine astir $1.5 billion, a spokesperson told Bloomberg.

HashKey’s determination to database successful Hong Kong represents a ballot of assurance successful the territory’s crypto strategy.

The anticipated IPO points to a much optimistic outlook aft Hong Kong-listed crypto firms took a beating connected the banal marketplace recently.

When the People’s Bank of China (PBOC) indicated its volition to restrict stablecoin enactment successful mainland China, shares successful OSL Group, Yunfeng Financial Group, and different crypto-adjacent Hong Kong stocks plummeted.

The station HashKey Eyes $200M IPO — On Track To Become Hong Kong Most Valuable Crypto Company appeared archetypal connected ccn.com.