Summary
- HashKey Holdings said it plans to raise at least US$200 million through an IPO.
- The IPO listing is scheduled for this month, but the size and timing may change.
- HashKey said its loss in the first half of 2025 improved compared to the previous year, but revenue fell by 26%.
On the 5th (KST), Bloomberg reported that HashKey Holdings Ltd., the operator of the virtual asset (cryptocurrency) exchange HashKey, will begin accepting investor orders next week in Hong Kong for its planned initial public offering (IPO).
HashKey plans to raise at least US$200 million through this IPO, and the listing is expected to take place within this month. The IPO size and listing schedule may still change.
HashKey operates various businesses including virtual asset trading, venture investment, and asset management, and is active in Hong Kong, Singapore, Bermuda, Japan, the United Arab Emirates (UAE), and Ireland. The company recorded a loss of HK$506 million (about US$65 million) in the first half of 2025, which was an improvement from the previous year. Revenue was HK$384 million, down 26%. As of September, HashKey processed spot trading volume amounting to HK$1.3 trillion.
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