Source: Crypto exchange Hashkey raises $206 million in Hong Kong IPO

HashKey Holdings is Hong Kong's biggest licensed crypto exchange and will?raise approximately HK$1.6billion ($206m) after pricing their Hong?Kong IPO at HK$6.68 a share, a reputable source said on Monday.

HashKey has launched its IPO last Thursday, offering 240.6 millions shares at HK$5.95 - HK$6.95 per share.

The company has not responded to a comment request.

HashKey's IPO price was first reported by Bloomberg on Monday.

HashKey was founded in 2018 and offers a range of services, including asset management, brokering, tokenisation and runs the largest licensed crypto exchange.

The Hong Kong Stock Exchange is expected to begin trading on December 17th.

HashKey's prospectus reveals that UBS, Fidelity, and Chinese investment firm CDH were among the cornerstone investors.

The IPO is coming at a time when some of the major cryptocurrencies in the world have been on a roller coaster ride over recent months, after hitting multiple record highs early this year.

Bitcoin, the largest?cryptocurrency in the world, has plunged by as much as 36 percent within a month after hitting an all-time high of over $126,000?in early October.

Beijing authorities, who banned cryptocurrency trading by 2021, have recently re-issued their warnings against virtual currencies.

Last month, the People's Bank of China reaffirmed their?tough position? by warning against a return of speculation? and vowing to crackdown on illegal activities that involve virtual currencies.

Hong Kong has adopted digital assets to enhance its reputation as an important financial hub. (Reporting and editing by Louise Heavens; Additional reporting by Jiaxing LI; Reporting by Kane Wu)

(source: Reuters)