Crypto exchange HashKey raises $207 million in Hong Kong IPO

Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST

Dec 16 : HashKey Group, Hong Kong's largest licensed crypto exchange, has set its initial public offering price at HK$6.68 per share, raising HK$1.61 billion ($206.96 million), according to an exchange filing on Tuesday.

The company offered 240.6 million shares under the IPO, and a source with direct knowledge of the matter had told Reuters on Monday the company would be pricing the IPO near the upper end of the marketed range.

The retail and institutional components of the IPO were over-subscribed nearly 393 and 5 times, respectively, documents lodged with the Hong Kong stock exchange showed.

U.S. market volatility has weighed on Hong Kong listings, with investor caution rising after a blockbuster year that crowned the city as the world's top listing venue by deal volume.

Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.


This service is not intended for persons residing in the E.U. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp’s partners.
Loading

HashKey Group, founded in 2018, offers a wide range of services including asset management, brokerage and tokenisation, and runs Hong Kong's largest licensed crypto exchange.

Shares are expected to debut on the stock exchange on Wednesday, HashKey said.

($1 = 7.7794 Hong Kong dollars)

Newsletter

Week in Review

Subscribe to our Chief Editor’s Week in Review

Our chief editor shares analysis and picks of the week's biggest news every Saturday.

Sign up for our newsletters

Get our pick of top stories and thought-provoking articles in your inbox

Subscribe here

Get the CNA app

Stay updated with notifications for breaking news and our best stories

Download here

Get WhatsApp alerts

Join our channel for the top reads for the day on your preferred chat app

Join here