Deals
Bitcoin Mining Equipment Maker Canaan Files for $1 Billion IPO
- China’s Canaan aims to start trading as early as July
- Firm seeks first Hong Kong IPO from cryptocurrency industry
Photo: Lars Hagberg/AFP/Getty Images
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Canaan Inc., the world’s second-biggest maker of bitcoin mining hardware, submitted a listing application to the Hong Kong stock exchange.
Morgan Stanley, Deutsche Bank AG, Credit Suisse Group AG and CMB International Capital Ltd. are joint sponsors of the proposed offering, according to a preliminary prospectus posted late Tuesday. Bloomberg News reported earlier Tuesday that Canaan had filed for an IPO that could raise about $1 billion. The filing didn’t say how much Canaan will seek.