TLDR
- HashKey’s IPO aims to raise up to $215 million, with shares priced between HK$5.95 and HK$6.95.
- The exchange plans to offer 240.57 million shares, with 24.06 million for Hong Kong investors.
- 40% of proceeds will go towards product innovation and infrastructure, with another 40% for market expansion.
- HashKey reported a loss of HK$506.7 million ($65 million) for H1 2025 but saw a 4% revenue increase.
- Hong Kong’s growing crypto regulations are supporting HashKey’s IPO and market development.
HashKey, a leading crypto exchange in Hong Kong, has officially launched its initial public offering (IPO). The company aims to raise up to $215 million, with trading scheduled to begin on December 17. Shares will be priced between HK$5.95 and HK$6.95 each, depending on demand. The IPO is expected to offer investors an opportunity to participate in Hong Kong’s growing crypto market.
Structure of the IPO and Fund Allocation
HashKey plans to issue 240.57 million shares in total, with 24.06 million allocated for local Hong Kong investors and the rest for international buyers. At the top end of the price range, the offering could generate up to HK$1.67 billion (approximately $214.68 million). If the shares are priced at HK$6.45 per unit, HashKey estimates net proceeds of around HK$1.43 billion ($183.82 million).
The company has outlined clear intentions for its IPO proceeds. About 40% of the funds will be used for product innovation and infrastructure enhancements. Another 40% will be allocated to expanding market reach and forming strategic ecosystem partnerships. The remaining 20% will cover operational costs, risk management improvements, and general corporate purposes.
HashKey’s Financial Situation and Regulatory Context
As it was reported by Blockonomi, Hash Key has faced financial challenges, it continues to report increasing revenue, dominated the Hong Kong crypto market. For the first half of 2025, HashKey posted a net loss of HK$506.7 million ($65 million), an improvement compared to the previous year’s loss. Revenue for the first nine months of 2025 rose by 4% year-over-year, reaching HK$557.6 million ($71.7 million).
This IPO comes as Hong Kong strengthens its regulatory framework for the cryptocurrency sector. In 2023, the city introduced a licensing system for virtual asset service providers, aiming to regulate the crypto industry more effectively. Recently, the Securities and Futures Commission announced a new initiative allowing licensed platforms to share order books, enhancing market liquidity.
The post HashKey Announces IPO in Hong Kong with $215M Funding Target appeared first on Blockonomi.
Source: https://blockonomi.com/hashkey-announces-ipo-in-hong-kong-with-215m-funding-target/
