One source with firsthand knowledge stated on Monday that HashKey Holdings, the biggest regulated cryptocurrency exchange in Hong Kong, is expected to raise approximately HK$1.6 billion ($206 million) after pricing its Hong Kong IPO at HK$6.68 per share.
Last week, HashKey conducted its first public offering (IPO), selling 240.6 million shares for between HK$5.95 and HK$6.95 each.
A request for comment from Reuters was not answered by the corporation. HashKey's IPO pricing was initially reported by Bloomberg on Monday.
Founded in 2018, HashKey manages the largest regulated cryptocurrency exchange in the area and provides a variety of services such as asset management, brokerage, and tokenization. On December 17, it is expected to begin trading on the Hong Kong Stock Exchange.
According to HashKey's offering prospectus, key investors in the IPO include UBS, Fidelity, and the Chinese investment firm CDH.
After frequently reaching record highs earlier this year, several of the top cryptocurrencies in the world have been on a roller-coaster ride in recent months, which coincides with the IPO.
The largest cryptocurrency in the world, Bitcoin, fell as much as 36% in about a month after peaking around $126,000 in early October. Beijing's authorities, who outlawed cryptocurrency trading in 2021, have lately reiterated their cautions over virtual currencies.
Last month, the People's Bank of China reiterated its strict position, threatening to take action against illicit activity involving virtual currencies and warning against a revival of speculation.
However, in an effort to bolster its standing as a major financial center, Hong Kong, which has a more liberal economic structure than mainland China, has welcomed digital assets.
