"HashKey wants to become the first crypto exchange that Hong Kong investors can buy on their local stock market. The company has filed for an initial public offering (IPO) that could make it the city's first publicly listed, fully crypto-native venue under the new virtual asset regime. It is offering 240.57 million shares, with a portion reserved for local retail investors."
"Shares are being marketed in a range of 5.95-6.95 Hong Kong dollars, which could rise to 1.67 billion HKD, about $215 million, and imply a multibillion-dollar valuation if the offering is fully subscribed. Trading is expected to begin on Dec. 17 on the Hong Kong Stock Exchange. HashKey already operates what it describes as Hong Kong's "largest licensed platform," a broader stack that includes custody, institutional staking and tokenization."
HashKey plans to list 240.57 million shares under Hong Kong's virtual asset regulatory regime, with a portion reserved for local retail investors. The shares are marketed at 5.95–6.95 HKD, potentially raising 1.67 billion HKD (~$215 million) and implying a multibillion-dollar valuation if fully subscribed. Trading is expected to begin on Dec. 17 on the Hong Kong Stock Exchange. The company operates a regulated platform combining trading, custody, institutional staking, asset management and tokenization and reports tens of billions of HKD in staking and managed assets. Revenue is growing but losses persist due to heavy investment, and most IPO proceeds are earmarked for infrastructure and international growth.
Read at Cointelegraph
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