BRIEF: HashKey launches $200 million Hong Kong IPO

Digital asset platform HashKey Holdings Ltd. (3887.HK) launched  its Hong Kong IPO on Tuesday, aiming to sell 240 million shares for HK$5.95 to HK$6.95 apiece to raise about HK$1.67 billion ($214 million). Shares will be sold in lots of 400, requiring investors to pay HK$2,808 per lot. Trading of the stock is set to begin Dec 17.

The company operates a licensed digital asset platform offering transaction facilitation services, on-chain services and asset management services. The platform can also issue and circulate tokenized real world assets (RWA).

HashKey reported its revenue rose 247% year-on-year to HK$720 million last year, as its loss doubled to HK$1.19 billion. Its revenue declined by 26% year-on-year in the first half of this year to HK$284 million, while its loss narrowed by 35% to HK$506 million.

By Lau Chi Hang

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