Published On: Wed, May 16th, 2018

ASIC Manufacturer Officially Files $1 Billion IPO In Hong Kong

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It seems that the creator of the Avalon Bitcoin ASIC mining hardware has taken moves to secure a stock listing spot on the Hong Kong stock exchange. The company, usually known as Canaan, is seeking for $1 billion in IPO funding.
Canaan Creative, better known for their Avalon ASIC lineup in the cryptocurrency community, has just confirmed that they have a plan to facilitate a one billion dollar IPO.
For those who are unaware of what an IPO is, IPO stands for an initial public offering, which is essentially the traditional equity market’s version of a cryptocurrency-based ICO. 

Bitcoin mining equipment maker Canaan files for $1 billion IPO in Hong Kong https://t.co/reYDofMRgn pic.twitter.com/3Hq5Cp2L7V
— Bloomberg (@business) May 16, 2018

This was not the first case of a public showing of Canaan’s ambitions to become listed on traditional equity markets as Canaan’s executives attempted to become listed on a Chinese OTC market called the New Third Board in 2016. 
This announcement came after last week’s rumors of the possibility that Canaan would apply to become publicly listed in either the Hong Kong or American stock exchanges. …

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