Bitmain IPO is outdated and not reviewed
Новости криптовалют: Bitcoin 11000$, Bitmain выходит на IPO, Криптовалюта от Фейсбука.
Bitmain’s IPO filing period has come to an end, but it looks like the members of the Hong Kong Stock Exchange committee haven’t considered it in half a year since filing..
The HKEx listing regulations provide the commission with 6 months to familiarize themselves with the applicant’s application, discuss and make a final decision. If during this period the company does not receive a response, then the document automatically becomes invalid.
Bitmain’s filing was released on September 26, 2018, but there are still no hearings on the matter.. Previously Chinese media reported that the Hong Kong Stock Exchange was hesitant to approve the listing of the company and therefore delayed the issuance of the verdict, although the HKEx representatives themselves denied this.
In the summer, on the eve of filing an IPO application, analysts estimated Bitmain at $ 15 billion, so this initial public offering could potentially become the largest in the history of the IT market. However, the ongoing collapse of the crypto market and the accompanying crisis in the crypto industry significantly worsened the performance indicators, which was reflected in the company’s financial statements. and cooled the interest of investors, and subsequently led to restructuring, staff reduction.
Such changes have caused concerns from HKEx representatives who began to express doubts regarding the sustainability of the business of Bitmain and other crypto companies.
text: Ivan Malichenko, photo: mrent, tagileparhiya