HashKey今起招股，引入瑞银、富达基金、鼎晖投资为基石，预计12月17日挂牌上市

Core Viewpoint - HashKey Holdings is planning a global offering of approximately 241 million shares, with a price range of HKD 5.95 to 6.95 per share, aiming to raise around HKD 14.264 billion if the midpoint price is applied [2][13]. Group 1: Offering Details - The company intends to offer about 24.057 million shares in Hong Kong and approximately 217 million shares internationally, with the offering period set from December 9 to December 12, 2025, and the expected pricing date on December 15, 2025 [2]. - The shares will be traded in lots of 400 shares, with J.P. Morgan and Guotai Junan International acting as joint sponsors [2]. - A cornerstone investment agreement has been established, with cornerstone investors agreeing to subscribe for shares totaling USD 75 million (approximately HKD 584 million) under certain conditions [2]. Group 2: Company Overview - HashKey provides a licensed digital asset platform offering trading facilitation, on-chain services, and asset management, and has launched HashKey Chain, a scalable Layer 2 infrastructure [4]. - The company is recognized as the largest regional onshore platform in Asia by trading volume as of 2024, and it is also the largest on-chain service provider and digital asset management institution in Asia by staked assets [4][5]. - As of September 30, 2025, HashKey's platform supports 80 types of digital asset tokens, including major Layer-1 assets and DeFi tokens [5]. Group 3: Financial Performance - HashKey's revenue sources include trading facilitation, on-chain services, and asset management, with significant growth in trading volumes from HKD 4.2 billion in 2022 to HKD 328 billion in 2023 [11][13]. - The company recorded revenues of HKD 129 million, HKD 208 million, and HKD 721 million for the years 2022, 2023, and 2024, respectively, indicating rapid expansion in trading facilitation services [11]. - As of August 31, 2025, HashKey held HKD 1.657 billion in cash and cash equivalents, along with HKD 592 million in digital assets, with 84% of the digital assets being mainstream tokens [12]. Group 4: Use of Proceeds - The company plans to allocate approximately 40% of the global offering proceeds for technology and infrastructure upgrades, another 40% for market expansion and ecosystem partnerships, and the remaining 20% for operational and risk management as well as general corporate purposes [14].