HashKey Raises HK$1.6 Billion in Hong Kong IPO, Prices Shares Near High End of Range

HashKey Holdings, operator of Hong Kong's largest licensed cryptocurrency exchange, has raised HK$1.6 billion ($206 million) after pricing its IPO at HK$6.68 per share, near the high end of the marketed range. The company sold 240.6 million shares, with investors showing strong interest for multiple times the number of shares available. Proceeds will be used to scale technology, hire talent, and bolster risk controls. The IPO is a test of Hong Kong's push to become a regional hub for digital assets.