Hong Kong licensed crypto exchange HashKey raises $206 million in IPO, pricing near the upper limit of the range

Hong Kong's largest licensed cryptocurrency exchange operator HashKey Holdings Ltd. has priced its initial public offering (IPO) at the high end of the marketing price range. HashKey Holdings Ltd. sold 240.6 million shares at a price of HK$6.68 per share, raising HK$1.6 billion (approximately US$206 million) in this Hong Kong IPO. The promotional price range for the shares was HK$5.95 to HK$6.95 per share.

HashKey did not exercise the option to increase the size of the offering. The allocation ratio for the top 20 institutional entities in the transaction was approximately 80% of the institutional placement portion (excluding cornerstone investors). HashKey's shares are set to debut on Wednesday, with JPMorgan Chase & Co. and Guotai Junan serving as joint sponsors for the IPO.