HashKey Targets $215M in Hong Kong IPO Bid to Become First Listed Crypto Exchange
HashKey Group is positioning itself as Hong Kong's pioneer in regulated digital asset platforms with a planned initial public offering aiming to raise up to $215 million. The exchange, which claims dominant market share in the city's licensed crypto sector, will offer 240.6 million shares priced between HK$5.95 and HK$6.95 apiece.
The offering structure reserves 10% for local investors, with trading slated to begin December 17. At the top end of the range, HashKey WOULD command a valuation approaching HK$19 billion, testing public market appetite for crypto infrastructure plays amid the current market cycle.
Positioned as a full ecosystem rather than just a trading venue, HashKey combines exchange services, custody solutions, and asset management under Hong Kong's VIRTUAL asset regulatory framework established in 2022. The platform emphasizes its first-mover advantage in the jurisdiction's licensed digital asset landscape.
