Chinese mining giant Bitmain has filed an official application for an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX). The document has yet to be finalized as a draft for a number of items, including the volume of the stock offer and the date of the campaign. However, in this form it can be considered by HKEX at the first stage of processing the application.
A detailed analysis of the upcoming IPO Bitmain we published here .
In the current version of the application it is stated that as of June 30 of this year, Bitmain's revenue totaled $ 2 billion 845 million 467 thousand, in 2017 – $ 2 billion 517 million 719 thousand, and in 2016 – $ 277 million 612 thousand. $ 1 billion 30 million 151 thousand – in the first half of 2018, $ 1 billion 212 million 750 thousand – in 2017 and $ 151 million 351 thousand – in 2016.
Bitmain balance in Bitcoin , the Bitcoin Cash , Ether , litecoin and Dash on June 30, 2018 Set at $ 886.9 million, representing 28% of all assets of the company at that time. This is less than Bitmain declared on December 30, 2017 ($ 872.6 million or 30% of assets) and more than the same date in 2016 ($ 56.3 million).
The number of mining equipment sold by Bitmain in 2015, 2016, 2017 and as of the second quarter of 2018 is fixed in the document at the level of 230 thousand, 260 thousand, 1.62 million and 2.56 million, respectively. In 2017, 27% of Bitmain's proceeds from the mining equipment were received in the crypto currency. In 2015, all of the company's products were focused on the production of bitcoins, and in the first half of this year – 73.2% of Bitmain's miners were intended for mining bitcoins or Bitcoin Cash.
In addition to reporting, the document provides a description of the company's activities and some details of the IPO. So, its underwriters will be companies:
- China International Capital Corporation,
- Hong Kong Securities Limited,
- Commerce and Finance Law Offices,
- Maples and Calder LLP,
- Frost & Sullivan.
Recall, the general director of the mining giant Bitmain Jihan Wu (June) confirmed the rumors spread in the Chinese media that the company is open for an IPO. Later, investment company Temasek, technology conglomerate Tencent Holdings and Japanese telecommunications media corporation SoftBank Group denied the information about their participation in the next round of Bitmain financing before its IPO.