HashKey Lists On HKEX After Oversubscribed $206M IPO
HashKey, Hong Kong’s largest cryptocurrency exchange, began trading on the Hong Kong Stock Exchange (HKEX) after raising $206 million in its initial public offering (IPO). The IPO was heavily oversubscribed, with 240 million shares sold and strong demand from both local and international investors, including major institutions such as Cithara Global and UBS. Shares opened at HK$6.7 ($0.86), briefly rose to HK$7.1 ($0.91), then dropped to as low as HK$6.1 ($0.78), trading slightly below the IPO price later in the day. HashKey is the first Asian digital asset company to go public through an IPO in Hong Kong and aims to use its public status to support global expansion and enhance compliance, security, and infrastructure. This listing reflects a broader trend of crypto companies moving toward public markets, with other firms such as Circle, Bullish, Gemini, and Kraken also pursuing IPOs.
