HashKey opens IPO subscriptions as it seeks to raise $214.7 million, valuing Hong Kong’s biggest crypto exchange at about $2.5 billion.
HashKey Group, operator of one of Hong Kong’s licensed crypto exchanges, has opened subscriptions for its initial public offering (IPO) ahead of an expected listing next week.
HashKey is seeking to raise up to 1.67 billion Hong Kong dollars ($214.7 million) in an IPO that is scheduled to debut on Dec. 17, according to a prospectus filed with the Hong Kong Stock Exchange (HKEX) on Tuesday.
The company is offering 240.6 million shares at $0.76–$0.89 each, which would bring HashKey’s valuation to $2.46 billion at the top of the range.
