HashKey IPO Launch Marks Milestone for Licensed Crypto Exchanges
HashKey Holdings, operator of Hong Kong's largest licensed crypto exchange, will debut on the Hong Kong Stock Exchange on December 17 under stock code 03887.HK. The IPO represents the first listing under the city's stringent VIRTUAL asset regulatory framework.
Subscriptions opened December 9-12 with shares priced between HK$5.95-$6.95. The offering includes 400-share lots at HK$2,808.04 each, targeting fundraising of HK$1.426 billion to HK$1.67 billion. At the upper range, the exchange could achieve a valuation NEAR HK$19 billion.
JPMorgan Asia and Guotai Junan co-sponsor the IPO, which has drawn HK$584 million in commitments from cornerstone investors including UBS AM Singapore and Fidelity Investments. The institutional demand signals growing confidence in regulated crypto ventures.
