HashKey Aims for Historic Crypto IPO in Hong Kong
- HashKey is set to offer 240.57 million shares under Hong Kong’s virtual asset regulatory regime.
- The company reported a revenue increase from 129 million HKD in 2022 to 721 million HKD in 2024, but net losses rose from 585.2 million HKD to 1.19 billion HKD.
- Trading is expected to commence on the Hong Kong Stock Exchange on December 17, with pricing finalized the day before.
- 40% of IPO proceeds will be allocated for technology upgrades, while another 40% focuses on market expansion and partnerships.
- HashKey claims to manage about 29 billion HKD in staked assets, positioning itself as one of Asia’s largest staking providers.
HashKey’s IPO represents a significant move within Hong Kong’s evolving digital asset landscape, aiming to restore its status as a crypto hub after regulatory changes. The offering will test investor confidence in compliance-focused crypto infrastructure amid strict regulations from mainland China.
With an anticipated trading debut on December 17, HashKey could raise up to 1.67 billion HKD, marking it as a pivotal player in Asia’s crypto market landscape.(Source)
