HashKey Holdings Limited, the company that operates Hong Kong’s largest cryptocurrency exchange, has officially filed an application to list on the exchange in the region.
According to the statement, HashKey plans to offer 240,57 million shares to investors worldwide, of which 24,06 million will be available to buyers in Hong Kong and the rest to foreigners.
Shares are priced between HK$5,95 and HK$6,95. At the maximum offering price, the company could raise up to HK$1,67 billion ($214,68 million) in gross proceeds.
HashKey’s Hong Kong public offering began on Tuesday, with applications open until December 12. The final IPO price will be determined and announced on December 16, and trading will commence on the Hong Kong Stock Exchange under ticker code 3887 on December 17.
HashKey plans to invest approximately 40% of its net profits into new product development and infrastructure modernization over the next three to five years. Another 40% will be used for market expansion and the creation of new partner ecosystems. The company plans to spend 10% on operations and risk management, and the remaining 10% on working capital and general corporate purposes.