HashKey Aims for Hong Kong’s First Fully Crypto-Native IPO
- HashKey plans to list 240.57 million shares under Hong Kong’s new virtual asset regulatory framework.
- Trading is expected to commence on December 17, with a maximum offer price of 6.95 HKD per share.
- The company reported a revenue increase from 129 million HKD in to 721 million HKD in, but net losses doubled to 1.19 billion HKD.
- 40% of IPO proceeds are designated for technology upgrades and infrastructure, while another 40% targets market expansion.
- HashKey operates as Hong Kong’s largest licensed platform, managing approximately 29 billion HKD in staked assets.
HashKey’s IPO represents a significant step for Hong Kong’s digital asset landscape, aiming to attract public equity investors with its compliance-first approach amidst evolving regulations. The anticipated listing could raise up to 1.67 billion HKD, enhancing the city’s status as a crypto hub.
With trading set to begin on December 17, HashKey is positioned as a key player in the regulated digital asset market, despite reporting losses of nearly 1.19 billion HKD. (Source)
