HASHKEY HLDGS(03887)12月9日至12月12日招股 拟全球发售2.41亿股 引入UBS AM Singapore等基石投资者

Core Viewpoint - HASHKEY HLDGS plans to conduct an initial public offering (IPO) from December 9 to December 12, 2025, aiming to issue 241 million shares at a price range of HKD 5.95 to 6.95 per share, with 10% allocated for public offering in Hong Kong and 90% for international investors [1][2] Group 1: Company Overview - The company operates a licensed digital asset platform offering trading facilitation, on-chain services, and asset management [1] - HASHKEY HLDGS is recognized as the largest regional onshore platform in Asia by trading volume for 2024, and also leads in on-chain services and digital asset management by assets under management [1] Group 2: Investment Agreements - The company has entered cornerstone investment agreements with several firms, including UBS AM Singapore and Fidelity, totaling USD 75 million in shares [2] - Assuming a median offer price of HKD 6.45, cornerstone investors are expected to acquire approximately 90.54 million shares [2] Group 3: Use of Proceeds - Approximately 40% of the net proceeds from the IPO will be allocated to upgrading technology and infrastructure over the next three to five years, with specific allocations for product development, cloud services, talent acquisition, and IT security [3] - Another 40% will be used to expand the operational team, enhance brand awareness, and establish ecosystem partnerships [3] - About 10% will be directed towards improving operational and risk management, including legal and compliance team expansion [3] - The remaining 10% will be reserved for working capital and general corporate purposes [3] Group 4: Performance Metrics - The company's trading volume surged from HKD 4.2 billion in 2022 to HKD 328 billion in 2023, and is projected to reach HKD 638.4 billion in 2024, driven by the launch of its digital asset trading platforms [4] - Registered customers increased dramatically from 18 in 2022 to 158,600 by the end of 2023, and further to 1.3372 million by the end of 2024, reflecting the rapid expansion of the trading platform [4] - The number of asset-holding clients rose from zero in 2022 to 37,530 by the end of 2023, and to 120,700 by the end of 2024, indicating strong growth in client engagement [4]