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Cryptocurrency miner Canaan lets Hong Kong IPO application lapse

Reuters  |  HONG KONG 

By Julia Fioretti and Julie ZhuHONG KONG (Reuters) - Canaan Inc, one of the world's leading cryptocurrency mining equipment makers, has let its application for a Hong Kong IPO of at least $400 million lapse, casting doubt on the prospects for other Chinese makers of bitcoin mining gear.Canaan's application lapsed on Thursday six months after it was filed, the Hong Kong stock exchange's website showed, amid optimism in the sector despite regulatory uncertainty and a slumping bitcoin price.Hangzhou-based Canaan had been targeting at least $400 million - down from a figure of up to $2 billion ...

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First Published: Thu, November 15 2018. 12:29 IST
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