October 11, 2019 / Business

Media: Canaan Creative Mining Company Is A Step Away From IPO Launch In USA


Shares of mining hardware manufacturer Canaan Creative will begin to be listed on the so-called unnamed stock exchange in the United States in November, 8BTC reports citing its own source. It is alleged that a total of the company issues 126 million securities, which will be closed until October 20.

According to the publication, Canaan Creative filed an application for an initial public offering (IPO) to the US Securities and Exchange Commission in July. In recent weeks, the company has completed all IPO related procedures. At the moment, the estimate of the company is in the range of $ 2-3 billion, according to a survey of institutional investors.

If the information is confirmed, Canaan will be the first public company of the three mining giants of China. Last year, Bitmain, Ebang, and Canaan filed for an IPO in Hong Kong.

According to the rules of the HKEX Group, the prospectus must be updated every six months. In November, the manufacturer AvalonMiner did not do this, and the application has expired. Bitmain and Ebang also refused to conduct an IPO on HKEX.

Recall that a possible initial public offering of Canaan shares in the United States was reported at the beginning of the year.


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