Crypto Exchange HashKey Begins Trading Roadshow for Hong Kong IPO

HashKey Holdings Limited, which runs the leading licensed cryptocurrency exchange in Hong Kong, has formally kicked off its journey to a public listing with the filing of a prospectus.

This initial public offering is a landmark for the sector, being the first pursued by a dedicated crypto exchange operator in Hong Kong. OSL Group’s public listing preceded its current digital asset business model.

Details in the Tuesday prospectus show the company plans a global issuance of 240.57 million new shares. The Hong Kong public offering portion consists of 24.06 million shares, with the remainder allocated to institutional investors outside the city.

The shares are being offered in a price band from HK$5.95 to HK$6.95. Achieving the maximum price would result in gross proceeds of up to HK$1.67 billion, translating to around US$ 215 million. Net proceeds, assuming a price of HK$6.45, are projected to be roughly HK$1.43 billion (US$ 184 million).