RATE Group | Crypto Unicorn Bitmain Weighs $18 Billion IPO, One of World’s Largest
38425
post-template-default,single,single-post,postid-38425,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Crypto Unicorn Bitmain Weighs $18 Billion IPO, One of World’s Largest

11 Aug Crypto Unicorn Bitmain Weighs $18 Billion IPO, One of World’s Largest

Posted at 06:25h in Cryptocurrency News by

[ad_1]

Bitmain Technologies, Ltd. is about to go public.

According to documents obtained by CoinDesk, the cryptocurrency mining company is filing for an initial public offering (IPO) potentially as high as $18 billion this September at a market capitalization of $40 to $50 billion. It will be underwritten by China International Capital Corporation and listed on the Hong Kong Stock Exchange in Q4 2018 or Q1 2019 amid a wave of Chinese unicorns hitting the public markets, including bitcoin mining competitors Canaan Creative and Ebang Communication.

One of the most valuable cryptocurrency companies, Bitmain closed a $1 billion pre-IPO financing round on July 23 at a $15 billion valuation, nearly two times cryptocurrency exchange Coinbase’s $8 billion valuation, reported in April.

Now, the possible $18 billion IPO sticker price positions Bitmain to displace social giant Facebook as one of the largest public offerings in history. SoftBank Group and Tencent Music are expected to top Alibaba…

[ad_2]

Source link

Tags:
, , , , , , , ,