Canaan Creative, the world’s second-biggest maker of bitcoin mining hardware, has submitted an application for a Hong Kong initial public offering that could raise about US$1 billion, people with knowledge of the matter said.
The Chinese company aims to start trading as soon as July, one of the people said, asking not to be identified because the information is private.
Canaan’s listing would be the first Hong Kong IPO from the cryptocurrency industry. The company has about 15 per cent share of the global market for bitcoin mining chips and computer equipment, trailing Chinese rival Bitmain, according to a February report from Sanford C. Bernstein & Co.
No final decisions have been made, and details of the offering could change, the people said. Canaan Creative Co-Chairman Jianping Kong declined to comment on details of the IPO preparations.