Bitcoin Mining Manufacturer Canaan Confirms IPO Filing, Backed By Major Banks
#Chinese #Bitcoin #mining #hardware manufacturer #Canaan Creative plans to start #trading of its #IPO as soon as July, #Bloomberg reports May 16.
Canaan, which confirmed rumors it was planning an IPO with a filing this week, will likely create the largest Bitcoin-focused offering yet seen when it debuts on the Hong Kong stock exchange.
Citing anonymous sources, Bloomberg added that while the filing did not mention a specific fundraising target, the figure “could” circle $1bln - a figure which had previously appeared earlier this month.
The move would create further competition for mining stalwart Bitmain, with Canaan currently already controlling around 15% of the Bitcoin chips and hardware equipment market.
In an interview with Reuters last month, meanwhile, co-chairman Jianping Kong said the numbers were equal to “a quarter of the world’s bitcoin blockchain computing power.”
Major IPO backers appearing on the filing are Morgan Stanley, Deutsche #Bank AG, Credit Suisse Group AG and CMB International Capital Ltd.
Canaan has yet to issue a public statement about the move, declining comment after a request from Reuters Tuesday
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