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Canaan Creative To Begin Trading Of Its IPO

May 17, 2018 Posted /  2263 Views

Canaan Creative To Begin Trading Of Its IPO

Canaan Creative, Chinese Bitcoin mining equipment producer intends to begin trading of its IPO by July.

Canaan affirmed rumours that it was organising an IPO with a filing this week, will supposedly make the biggest Bitcoin centred offering yet to be observed when it makes a big appearance on the Hong Kong stock exchange trade.

Referring to unknown sources, Bloomberg included that while the recording did not state a particular target for fundraising, the value could be around $1billion, a figure which had come out previously.

The move might generate rivalry for mining loyal Bitmain, with Canaan presently controlling around 15 percent of the Bitcoin chips and the market for hardware.

In a meeting with Reuters a month ago, Jianping Kong, co-chairman said the numbers were equivalent to a quarter of the world's bitcoin blockchain processing power.

Significant IPO supported showing up for the filing are Deutsche Bank AG, Credit Suisse, Morgan Stanley, CMB International Capital Ltd. and Group AG.

Canaan still has to release an official statement in respect to the move, refusing to comment after a request made by from Reuters.

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Tags: IPO Canaan Creative Bitcoin Mining mining equipment producer

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