HashKey Global, a major Asian digital asset firm, has filed to launch its initial public offering (IPO) in Hong Kong. The offering opened at 9:00 a.m. today and is an important step for the company and the growing digital asset market in the region. Notably, trading of HashKey shares will start on December 17 on the Hong Kong Stock Exchange with the stock code 3887.
HashKey Intends to Raise Funds to Support its Growth
As part of the IPO, HashKey will issue 240.57 million shares worldwide. Out of these, 24.06 million shares are reserved for Hong Kong investors, while the remaining are allocated to international buyers. It is worth noting that each share is priced between HK$5.95 and HK$6.95 per share.
The HashKey IPO application period will close on December 12. The final offer price will be confirmed and announced on December 16, just one day before trading starts.
The company plans to use the money raised from the IPO to support its long-term growth. HashKey affirmed it will invest 40% of the funds in upgrading its technology and infrastructure over the next three to five years. These upgrades aim to improve platform security, enhance system performance, and support future product development.
Another 40% will be allocated for expanding the market and building partnerships. 10% will be dedicated to operations and risk management to ensure compliance with regulations and maintain operational strength. The remaining funds are for working capital and general corporate needs. This approach enables HashKey to utilize new opportunities in the evolving digital asset market.
HashKey Global Expanding Influence
Interestingly, this update comes at a time when HashKey Group has been diligently working to strengthen its presence in key markets. For example, the company received In-Principle Approval from Dubai’s Virtual Asset Regulatory Authority (VARA) for a Virtual Asset Service Provider (VASP) license.
This will enable it to enjoy privileges and expand its regulated crypto services in the Middle East. More importantly, it will help the firm reach more people with their services as cryptocurrency adoption increases worldwide.
Additionally, HashKey Europe Limited, a subsidiary of HashKey Group, has obtained VASP registration for the Central Bank of Ireland. This milestone strengthens the company’s regulatory presence in Europe and strategically positions it for deeper regional market penetration.
The Road Ahead for Hong Kong in Crypto
Hong Kong’s robust regulatory framework and strategic initiatives have attracted global attention.
This has created a thriving ecosystem where financial stability meets technological advancement. With policies designed to balance innovation and investor protection, Hong Kong is positioning itself as a benchmark for crypto-friendly governance.
Recall that Hong Kong has pledged to remain open to digital assets. The region is positioning itself as a leader in regulated crypto finance, offering investors more secure ways to enter the market.