The operator of Hong Kong’s biggest licensed crypto exchange could raise around US$500 million in a listing this month, according to a source familiar with the matter. HashKey did not disclose the size or the timing of its initial public offering (IPO) in a filing on Monday.
“The investment sentiment surrounding cryptocurrencies would have an impact on its pricing and listing timing,” said Kenny Ng Lai-yin, a strategist at Everbright Securities International. “With mainland authorities stepping up curbs on cryptocurrency speculation and prices of assets such as bitcoin and ether falling, there could be a potential material impact on its market value and offer price.”
HashKey, one of 11 licensed virtual asset trading platforms in Hong Kong, provides transaction facilitation, on-chain services and asset management. It has promoted its capability to issue and circulate tokenised real-world assets to acquire more businesses and partners.
