Thailand’s Bitkub crypto exchange mulls Hong Kong IPO: Bloomberg
Thailand's largest crypto exchange, Bitkub, is reportedly considering a Hong Kong IPO to raise $200 million as early as next year.Summary
Thailand's largest cryptocurrency exchange, Bitkub, is reportedly considering launching an Initial Public Offering (IPO) in Hong Kong, potentially as early as next year, aiming to raise around $200 million, according to sources cited by Bloomberg. This move follows the shelving of plans for a domestic IPO due to the significant underperformance of the Thai stock market, where the SET Index is down nearly 25% year-to-date. Bitkub CEO Jirayut Srupsrisopa previously indicated in February 2024 a commitment to expanding beyond Thailand by exploring a Hong Kong IPO to boost global visibility. The potential listing aligns with Hong Kong's ongoing efforts to solidify its position as a global crypto hub, evidenced by its early launch of spot crypto ETFs and regulatory frameworks supporting crypto trading platforms sharing global order books.
(Source：The Block)