Overview
- HashKey is offering 240.57 million shares at HK$5.95–6.95, seeking up to HK$1.67 billion (about US$214–215 million).
- Order books are open this week, with pricing set for Dec. 16 and trading due Dec. 17 under stock code 3887.
- UBS Asset Management, Fidelity International and Infini Capital have agreed to cornerstone about US$75 million, and JPMorgan Chase with Guotai Junan are joint sponsors.
- The prospectus details HK$29.0 billion in staking assets and HK$7.8 billion in assets under management, alongside a HK$1.19 billion loss in 2024 and a HK$506.7 million loss in the first half of 2025.
- Proceeds are earmarked with roughly 40% for technology and infrastructure, 40% for market expansion and partnerships, and 20% for operations and risk management as Hong Kong advances a licensed crypto framework under Beijing’s scrutiny.