Thai Crypto Exchange Bitkub Plans 2025 IPO: Bloomberg
Summary
Bitkub Online, a Thai cryptocurrency exchange, is planning a public share sale in 2023. The IPO is expected to value the exchange at around 6 billion baht ($165 million). Bitkub Online, which provides about 80% of parent company Bitkub Capital Group's profit, has seen increased demand for cryptocurrency trading accounts as bitcoin and the broader crypto market have seen significant gains. However, the company faces competition from Binance Thailand and was involved in a lawsuit by the Securities and Exchange Commission for allegedly inflating trading volumes. A previous plan for Siam Commercial Bank to buy 51% of Bitkub Online was cancelled by the SEC.
