HashKey IPO retail tranche 14 times oversubscribed

HashKey, the parent company of one of Hong Kong’s largest licensed crypto exchanges, kicked off retail book building for its initial public offering in the city, drawing HK$2.52 billion in margin financing from brokerages, 14.1 times oversubscription of the retail tranche.

The company plans to sell 240 million shares, with 10 percent allocated to the public offering. The indicative price range is HK$5.95 to HK$6.95 per share, raising as much as HK$1.67 billion. The minimum investment is 400 shares at HK$2,808.

HashKey’s shares are expected to list on the Hong Kong Stock Exchange on December 17.