Having failed to conduct an IPO in Hong Kong, Canaan is apparently eyeing an alternative jurisdiction.
Canaan, China’s second-largest hardware player, could begin selling its shares in a private placement in the first half of this year, according to the people familiar with the matter who declined to reveal their identity.
Without quoting the anonymous sources directly, Bloomberg added that “deliberations are at an early stage, and there’s no certainty they will lead to a transaction” for a NYC-based IPO.
The rumors come following a tumultuous several months in the Bitcoin mining sector. Led by Bitmain, entities have seen considerable losses on the back of plummeting Bitcoin (BTC) prices and associated decreases in demand and activity.
While Bitcoin’s network hashrate has since begun to recover, reports in December were widespread that Bitmain’s IPO plans, also scheduled for Hong Kong, were to go nowhere due to reluctance from Hong Kong’s stock market regulator.
Bitmain is still set to lay off potentially huge numbers of employees in the short term.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.