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HashKey Holdings’ IPO International Portion Oversubscribed Nearly 149 Times

Licensed crypto exchange operator HashKey attracted strong demand as its public offering drew HK$248.98 billion in borrowed funds for the HK$167 million sought.

Summary

HashKey Holdings, the parent of licensed cryptocurrency exchange HashKey, saw its international initial public offering oversubscribed by global and mainland China investors. Borrowed funds for the public portion reached HK$248.98 billion compared to the HK$167 million sought, marking a 148.91 times oversubscription ahead of the December 12 deadline.

Terms & Concepts
  • IPO (Initial Public Offering): The process by which a private company offers shares to the public for the first time.
  • Oversubscription: A situation where investor demand for shares exceeds the number of shares available for sale.
  • Licensed Crypto Exchange: A cryptocurrency trading platform that has obtained regulatory approval to operate in a specific jurisdiction.