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Manufacturer of equipment for mining Canaan Creative wants to collect a billion dollars



The Chinese company intends to hold an IPO on the Hong Kong Stock Exchange.




10.May.18 1:22 AM
By Mark Gainer
Photo Toinnov.com

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Manufacturer of equipment for mining Canaan Creative wants to collect a billion dollars
The second-largest Chinese producer of equipment for mining bitcoin Canaan Creative intends to conduct an initial public offering (IPO) and attract a billion dollars, the Internet magazine ForkLog writes. As a probable site for the placement of securities, the Hong Kong Stock Exchange is being considered.

In past years, Canaan Creative planned to conduct an IPO on the Chinese stock market, but could not do so because of regulatory impediments. However, in April, co-chairman of Canaan Creative Jianping Kuhn said that the decision to conduct an IPO abroad is not due to last year's bans on performing ICO, the work of crypto-instruments and increased pressure on miners by the authorities of the PRC.

According to him, the central role in the choice of the site was played by the fact that the listing on the stock exchanges of China takes too much time. It is also known that previously, as an alternative, Canaan considered American sites. Now it can become the first blocking company that will enter the stock market of Hong Kong.

Note that last year, the profit of Canaan Creative was $ 64 million and increased seven-fold compared with 2016.



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