HashKey launches Hong Kong IPO, seeking up to $215 million

HashKey Holdings Limited has officially filed for a public listing in Hong Kong, marking the first IPO of a dedicated crypto exchange in the region. The company plans to offer 240.57 million shares, potentially raising up to HK$1.67 billion ($214.68 million). Approximately 40% of the net proceeds will be allocated to product innovation and infrastructure upgrades, with another 40% earmarked for market expansion and ecosystem partnerships. Despite recent net losses, HashKey’s revenue has increased, driven by growth in asset management services. The IPO reflects Hong Kong’s evolving crypto regulations and its efforts to foster growth while establishing oversight within the sector, with trading expected to begin on December 17th under the stock code 3887.

(Source：The Block)