OKX: “We won’t rush an IPO… a weak listing would hurt the industry”

JH Kim

Summary

OKX said regarding an IPO that it will move forward “when we’re confident we can create sufficient shareholder value.”
The OKX president noted that cases where post-listing stock returns come in at -50% could have a negative impact on the entire industry.
He said he will focus on the company’s long-term growth and stability rather than a short-term listing, building the company over 20 to 30 years.

Forecast Trend Report by Period

OKX, a crypto-asset (cryptocurrency) exchange, has taken a cautious stance on an initial public offering (IPO).

According to CoinDesk, a crypto-focused media outlet, OKX President Haider Rafique said on the 26th (local time), “We will pursue an IPO when we’re confident we can create sufficient shareholder value,” adding, “If not, there is no reason to list.”

Citing examples of companies that underperformed after listing, he pointed out, “If you bought the stock and the return is -50%, that could have a negative impact on the entire industry.”

He also stressed, “Long-term growth and stability matter more than a short-term listing,” adding, “We will focus on building the company over 20 to 30 years.”

The remarks are interpreted as showing that, even amid a recent wave of listing moves by crypto firms, caution is growing against pushing ahead with an overly aggressive IPO.