HASHKEY HLDGS12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 Holdings plans to conduct a global offering of 241 million shares, with a price range of HKD 5.95 to 6.95 per share, aiming to raise approximately HKD 14.26 billion in net proceeds [1][2]. Group 1: Offering Details - The global offering consists of approximately 10% for public sale in Hong Kong and 90% for international sale, with an additional 15% over-allotment option [1]. - The shares are expected to commence trading on December 17, 2025, at 9:00 AM Hong Kong time [1]. Group 2: Business Overview - HashKey Holdings operates a licensed digital asset platform providing trading facilitation, on-chain services, and asset management [1]. - The company 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 3: Strategic Partnerships - The company has entered cornerstone investment agreements with several major investors, including UBS AM Singapore and Fidelity, totaling USD 75 million in share subscriptions [2]. - Assuming a mid-range offer price of HKD 6.45, cornerstone investors are expected to acquire approximately 90.54 million shares [2]. Group 4: Use of Proceeds - Approximately 40% of the net proceeds 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 5: 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 [4]. - The number of registered customers increased dramatically from 18 in 2022 to 1.37 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 138,500 by mid-2025, indicating significant growth in client engagement [4].