The privately owned, crypto mining hardware hulk Bitmain Technologies Ltd. is stated to revitalize its initial public offering (IPO) policies. This time the country to launch IPOs in America rather than Hong Kong.
As stated by a media report named people with knowledge of the matter, Bitmain is contacting the field guides for an American public listing, theoretically scheduled in the last six months of the year 2019.
The firm Bitmain is the biggest maker of crypto mining devices across the globe. It is planning to files papers with the American Securities and Exchange Commission in the next month.
In September 2018, Bitmain applied to IPO on the Hong Kong Stock Exchange (HKEX), but that struggle seemed to have met confrontation and eventually, the company let its application pause in March 2019.
As stated by a Bloomberg’s sources, Bitmain might shrink its former fundraising target to approximately three hundred million to five hundred million dollars ($300 M–$500 M) the American offering, though that number is still not a fix. It is anticipated to raise up to three billion dollars ($3 B) through the HKEX share offering.
The report further added that the groundings for the American IPO are still in the infancy and are subject to change. Bitmain has not commented on the news yet.