Bitmain to launch IPO in Hong Kong Stock Exchange
Credit:
WCCFTech
China Bitcoin ASIC supplier Bitmain plans to launch an initial public offering (IPO) in Hong Kong early 2019 at the latest, and is seeking a pre-IPO financing of US$1 billion to boost its valuation to US$15 billion, according to industry sources.
The sources said that Bitman is scheduled to file an IPO application with the Hong Kong Stock Exchange in September for an official launch late 2018 or early 2019.
In early July, Bitmain just completed a Series B funding of US$300-400 million headed by Sequoia Capital, with other investors including US-based hedge fund manager Coatue, Singapore's EDBI and China's Sinovation Ventures. After the funding, the firm's valuation has expanded to US$14 billion.
