Chinese mining equipment manufacturer is planning an IPO in Hong Kong for $ 1 billion

Canaan Creative the second-largest bitoin mining equipment manufacturer in China, plans to list the company on the Hong Kong Stock Exchange. During the initial public offering (IPO), the company intends to raise up to $ 1 billion, the South China Morning Post reported on Thursday.

This will be the first time that the manufacturer of the cryptocurrency is exported to this trading platform. Earlier Canaan considered the possibility of holding an IPO including in the US, but eventually chose Hong Kong, the publication specifies.

The company was founded in 2013 in Hangzhou, eastern Zhejiang Province. Previously, it was looking for opportunities for listing on the stock market, including in mainland China, but these attempts were unsuccessful and were postponed.

Last year, China adopted regulatory measures to ban ICO (Initial Coin Offering – a form of attracting investments in the form of issuing and selling new cryptocurrencies / tokens) to its investors, as well as trading with cryptocurrencies. Source:

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