Bitmain may struggle to get IPO as Hong Kong regulators are wary

19 Dec, 2018
by David Borman
Bitmain may struggle to get IPO as Hong Kong regulators are wary

The South China Morning Post is reporting that sources from inside Hong Kong's regulatory department have indicated that regulators feel it is too soon for any company built around crypto to be launching an IPO. This could interfere with Bitmain's application to do just that and go public in the nation.

Bitmain has applied to the Listing Committee of the Hong Kong stock exchange for a $3 billion IPO to take its company public. However, anonymous sources familiar with the matter told the SCMP that the nation's regulators are very reluctant to approve an IPO for any cryptocurrency company at this time.

This is not the first IPO proposal to be shot down, assuming it will be. Canaan Creative, another ASIC mining manufacturer, had its IPO application rejected in November.

This is not the only bad news to hit Bitmain recently, and in fact it has been a tough year for the industry leader. Will the slump continue? Or will Bitmain find a way to move ahead with its IPO? Stick with Chepicap for any and all updates!

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