HashKey crypto exchange opens Hong Kong IPO subscription, targets $215M

HashKey Group, the operator of a licensed Hong Kong crypto exchange, has launched its Initial Public Offering (IPO) subscription, aiming to raise up to HKD 1.67 billion (about $214.7 million) with a targeted listing date of December 17. The company is offering 240.6 million shares priced between $0.76 and $0.89, which would value HashKey at $2.46 billion at the high end. Founded in 2018, HashKey has become Hong Kong's largest crypto exchange, reportedly holding a 75% market share. It offers services including spot exchange, OTC trades, staking, and operates the HashKey Chain, an Ethereum layer-2 network. The IPO is supported by major sponsors like JPMorgan, and the proceeds will fund ecosystem scaling, risk management, and talent acquisition. This public offering occurs during a significant IPO boom in Hong Kong.

(Source：Cointelegraph)