As reported by Cryptoticker, HashKey, a Hong Kong-based crypto exchange, has officially opened subscriptions for its initial public offering (IPO), marking the first time a fully licensed crypto trading platform is going public in the city. The IPO, with a price range of HK$5.95 to HK$6.95 per share, could raise up to $215 million. The subscription period runs from December 9 to December 12, with the stock set to debut on the Hong Kong Stock Exchange on December 17 under the ticker 3887. HashKey plans to use 40% of the proceeds for technology upgrades, 40% for market expansion, and 20% for operations and corporate needs. Despite reporting a net loss of HK$506.7 million for the first half of 2025, the company noted a 4% year-over-year revenue growth. Hong Kong's regulatory environment has been strengthening, including the introduction of a licensing regime for virtual asset service providers and new rules for stablecoins.
HashKey Launches $215M IPO as Hong Kong's First Licensed Crypto Exchange Goes Public
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