China's second largest mining hardware maker plans to raise $ 1 billion through IPOCanaan Creative, China's second largest Bitcoin mining hardware manufacturer, is set to hold an initial public offering (IPO) on the Hong Kong Stock Exchange, the South China Morning Post writes.

China's second largest mining hardware maker plans to raise $ 1 billion through IPOCanaan Creative, China's second largest Bitcoin mining hardware manufacturer, is set to hold an initial public offering (IPO) on the Hong Kong Stock Exchange, the South China Morning Post writes.

China's second largest manufacturer of mining equipment plans to raise $ 1 billion through IPO

Canaan Creative, second largest manufacturer equipment for mining bitcoin in China, intends to conduct an initial public offering (IPO) on the Hong Kong Stock Exchange, writes South China Morning Post.

If it manages to do so, it will become the first blockchain company to enter the Hong Kong stock market, SCMP notes..

Sources familiar with the situation said that the announcement regarding the listing of Canaan securities has not yet been made, but it is already known that the company intends to raise $ 1 billion..

According to SCMP, in 2016 Canaan planned to conduct an IPO on the denominated in Chinese yuan market, however, was unable to do so due to regulatory obstacles. In 2017, the company tried again to enter the Chinese market, but failed again..

Canaan Creative is based in Hangzhou. Unaudited figures released in January showed 2017 annual profit of 410 million yuan ($ 64 million), in this way an increase of 600% over the previous year. Most of Canaan's customers are located in China.

The final decision regarding listing on the Hong Kong stock exchange has not yet been made, writes SCMP. It is also known that Canaan previously considered American sites as an alternative..
China's second largest mining hardware maker plans to raise $ 1 billion through IPOCanaan Creative, China's second largest Bitcoin mining hardware manufacturer, is set to hold an initial public offering (IPO) on the Hong Kong Stock Exchange, the South China Morning Post writes.

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