Thai crypto exchange Bitkub weighs Hong Kong IPO, Bloomberg reports

Thai cryptocurrency exchange Bitkub is considering an initial public offering in Hong Kong as early as next year, aiming to raise about US$200 million (HK$15.6 billion), Bloomberg reported, citing people familiar with the matter.

The plans are still under discussion and details could change, the report said.

Founded in 2018, Bitkub had previously explored a domestic listing, but Thailand’s market downturn has made fundraising less attractive, according to Bloomberg.

The SET Index has fallen about 10 percent so far this year, with listed companies posting an average decline of more than 12 percent.