Another IPO is on the way!

HashKey Holdings has submitted its IPO application to the Hong Kong Stock Exchange, planning to issue around 240.6 million shares at a price range of HKD 5.95–6.95. The goal is to raise HKD 1.67 billion (approximately USD 215 million) with an estimated valuation of HKD 1.9 billion.

The subscription period ends this Friday, and trading will begin on December 17.

Cornerstone investors include UBS and Fidelity, together committing USD 75 million. HashKey states that it is the largest licensed cryptocurrency exchange in Hong Kong, capturing over 75% of onshore digital asset trading volume.

In the end, it's all about stock — take money!

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