The world’s largest company producing hardware for cryptocurrency mining Bitmain intends to attract $18 billion investment in the IPO.
It is reported by CoinDesk, citing obtained documents. According to the publication, after the IPO capitalization Bitmain will be from 40 to 50 billion dollars. The company plans to list its shares on the Hong Kong stock exchange in late 2018 — early 2019. Around this same time two other major Chinese companies Canaan Creative and Ebang Communication intend to hold an IPO. All three companies included in the list of Chinese billionaires.
Last month, Bitmain has held preliminary stage of the IPO, collecting $1 billion investment. After this event, the company was valued at $15 billion If they manage to raise $18 billion, the IPO will enter the top 10 for fundraising for all time, ahead of Facebook and Enel.
We will remind that net profit Bitmain for the first quarter of this year amounted to $1.1 billion.
Bitmain has also previously invested in the company Block.one that is responsible for the blockchain Protocol EOSIO, along with billionaire PayPal founder Peter Thiel.