Hong Kong’s largest licensed digital asset exchange operator HashKey Holdings Limited successfully completed its IPO fundraising on the Hong Kong Stock Exchange, with impressive results. According to Bloomberg, HashKey’s final IPO price was HKD 6.68, raising approximately HKD 1.6 billion (equivalent to USD 206 million), marking a new chapter in Hong Kong’s financial market.
Pricing Near Upper Limit Institutional Investors Enthusiastically Subscribed
HashKey issued a total of 240.6 million shares in this IPO, with an offering price range set between HKD 5.95 and HKD 6.95. The final price of HKD 6.68 approached the upper end of the range, reflecting strong market confidence in the exchange. During the subscription period, institutional investors’ enthusiasm far exceeded expectations, with the overall subscription multiple reaching several times the issue volume. Among them, the top 20 institutional investors received about 80% of the shares in the institutional allotment (excluding cornerstone investors), indicating professional investors’ strong optimism about HashKey’s prospects.
It is worth noting that HashKey holds the maximum 30% overallotment option but ultimately did not exercise it, suggesting the company is satisfied with the scale of this fundraising and also reflecting management’s confidence in the current fundraising amount. JPMorgan Chase and Guotai Junan served as joint sponsors, providing strong support for this IPO.
Navigating the Crypto Market Turbulence with a Contrarian Listing
HashKey’s listing timing was quite challenging. Since Bitcoin hit a record high in October this year, it has subsequently adjusted by nearly 30%, putting pressure on the overall cryptocurrency market. In this market environment, HashKey was still able to achieve a premium valuation and successfully raise funds, demonstrating investors’ confidence in its business model and development prospects.
Hong Kong’s New Financial Momentum Driving Market Revival
HashKey’s successful listing is seen as an important indicator of Hong Kong’s push to develop a “Digital Asset Center.” This IPO coincides with the recovery period of Hong Kong’s new stock market, with total fundraising this year expected to reach a four-year high. As Hong Kong’s first licensed digital asset exchange to list on the HKEX, HashKey represents a new milestone in the city’s progress in digital asset regulation and innovation.
HashKey is scheduled to officially list on the HKEX on December 17, which will be a significant milestone for the development of Hong Kong’s digital asset industry, further consolidating Hong Kong’s position as a global hub for digital asset trading.
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HashKey IPO trên sàn Hong Kong trong một tuần huy động hơn 1.6 tỷ đô la Hồng Kông, vị thế trung tâm tài sản số của Hong Kong nổi bật
Hong Kong’s largest licensed digital asset exchange operator HashKey Holdings Limited successfully completed its IPO fundraising on the Hong Kong Stock Exchange, with impressive results. According to Bloomberg, HashKey’s final IPO price was HKD 6.68, raising approximately HKD 1.6 billion (equivalent to USD 206 million), marking a new chapter in Hong Kong’s financial market.
Pricing Near Upper Limit Institutional Investors Enthusiastically Subscribed
HashKey issued a total of 240.6 million shares in this IPO, with an offering price range set between HKD 5.95 and HKD 6.95. The final price of HKD 6.68 approached the upper end of the range, reflecting strong market confidence in the exchange. During the subscription period, institutional investors’ enthusiasm far exceeded expectations, with the overall subscription multiple reaching several times the issue volume. Among them, the top 20 institutional investors received about 80% of the shares in the institutional allotment (excluding cornerstone investors), indicating professional investors’ strong optimism about HashKey’s prospects.
It is worth noting that HashKey holds the maximum 30% overallotment option but ultimately did not exercise it, suggesting the company is satisfied with the scale of this fundraising and also reflecting management’s confidence in the current fundraising amount. JPMorgan Chase and Guotai Junan served as joint sponsors, providing strong support for this IPO.
Navigating the Crypto Market Turbulence with a Contrarian Listing
HashKey’s listing timing was quite challenging. Since Bitcoin hit a record high in October this year, it has subsequently adjusted by nearly 30%, putting pressure on the overall cryptocurrency market. In this market environment, HashKey was still able to achieve a premium valuation and successfully raise funds, demonstrating investors’ confidence in its business model and development prospects.
Hong Kong’s New Financial Momentum Driving Market Revival
HashKey’s successful listing is seen as an important indicator of Hong Kong’s push to develop a “Digital Asset Center.” This IPO coincides with the recovery period of Hong Kong’s new stock market, with total fundraising this year expected to reach a four-year high. As Hong Kong’s first licensed digital asset exchange to list on the HKEX, HashKey represents a new milestone in the city’s progress in digital asset regulation and innovation.
HashKey is scheduled to officially list on the HKEX on December 17, which will be a significant milestone for the development of Hong Kong’s digital asset industry, further consolidating Hong Kong’s position as a global hub for digital asset trading.