25/01/19 07:22 UTC-5

Comments from HKEX: IPO of cryptocurrency companies on the stock-exchange

The executive director of the Hong Kong Exchange (HKEX)  has ambiguously commented on the situation regarding the IPO of crypto-companies, as reported by the CoinDesk news agency.

New comments from the Executive Director of the Hong Kong Exchange (HKEX) have significantly weakened the hopes of cryptocurrency companies for a successful initial public offering of IPOs.

On January 24, Tencent Finance.QQ news portal published a report by HKEX CEO Charles Li Xiaojia. The report states that companies seeking listing on the HKEX should have a sustainable business model that is impossible in the high volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details
of the cryptocurrency market.

Interesting in the section: Crypto-exchanges: guidelines for beginners


Cryptocurrency companies: the possibility of listing on HKEX

Although Lee did not talk about specific crypto-companies, he generally reported on the HKEX listing requirements for IPOs. Three leading crypto-mining companies, Bitmain, Canaan and Ebang, have applied for the listing of HKEX, but none of them has received approval until today.

According to the report of Charles Li Xiaojia, HKEX will adhere to the principle of market adaptability when considering applications from companies for IPO, including crypto-companies.

Interesting in the section: ICO and its main characteristics

"For an IPO (...) the basic principle of HKEx is the availability of listing. Is the business model suitable for investors for listing?" – Charles Li Xiaojia.

Comments from the HKEX for IPO cryptocurrency companies are far from positive, especially considering the volatility of the crypto-sphere. Recall that the Bitmain company filed an application for an IPO in HKEX in September last year, and Canaan and Ebang filed in May and June, respectively. Ebang re-published its IPO prospectus project last month, but the statement indicated a significant decrease in revenue and gross profit in Q3 2018.

Editor: Pereyidenko Ihor

See also: "Bithumb Exchange announced its entry into the US market through IPO"

#cryptocurrency #exchange #IPO #HKEX #StockExchange #Canaan #Ebang #Bitmain



22/02/19 08:00 UTC-5

Telegram Open Network: contracts with investors may be terminated

​The Token Gram and the TON (Telegram Open Network) platform must be launched before October 31, 2019, otherwise all agreements with ICO investors will be terminated. The document, which was compiled on behalf of Pavel Durov, marks the deadlines for the full launch of the Telegram Open Network blockchain platform and the Gram token.

29/01/19 08:03 UTC-5

ICO of Kin cryptocurrency: litigation with the SEC

​Kik, a company specializing in the development of instant messengers, plans to challenge the decision of the US Securities and Exchange Commission (SEC) regarding its ICO in 2017, as reported by the CoinDesk news agency.

11/01/19 08:47 UTC-5

tZERO defrosted investor security-tokens

​The tZERO company (a subsidiary of the Overstock digital retailer) provided investors with access to security-tokens that were paid last August, as reported by the CoinDesk news agency.

Hypes, funds, fiat money