HASHKEY discloses IPO details: plans to raise up to 1.67 billion yuan, expected to be listed on December 17

According to the Hong Kong Economic Times, HASHKEY HLDGS (new listing number: 03887) will issue shares from December 9 to 12. HASHKEY, the parent company of Hong Kong-licensed virtual asset exchange Hashkey Exchange, plans to issue 240 million shares, 10% of which will be offered for sale in Hong Kong. The bidding price is between 5.95 yuan and 6.95 yuan. The maximum capital raised is 1.67 billion yuan. Each lot of 400 shares will be sold, and the first-hand entry fee will be 2808 yuan. HASHKEY is expected to be listed for trading on December 17. Motong, Cathay Haitong and Guotai Junan International are joint sponsors.
As of October 31, it had 1.48 billion yuan in cash and cash equivalents and 570 million yuan in digital assets, and 89% of the digital assets were mainstream tokens, including ETH, BTC, USDC, USDT and SOL.
As of the end of September, the platform assets exceeded 19.90 billion yuan, of which 3.1% were stored in hot wallets and 96.9% in cold wallets. The cumulative spot trading volume of the exchange was 1.30 trillion yuan. The main business is transaction facilitation services, accounting for nearly 70% of the revenue. In the past three years, HASHKEY lost 590 million yuan, 580 million yuan and 1.19 billion yuan respectively. In the first six months of this year, the loss attributable to equity shareholders of HASHKEY was 510 million yuan, which narrowed by 34.8% year-on-year. As for revenue, it fell by 26.1% to 280 million yuan.