Blockchain Enterprise Struggles For IPOs: Stock Exchange of Hong Kong Biggest Roadblock

記者譚瑩珊/台北編譯報導
Still waiting for demand on the application side to surge, the blockchain industry has relied on ICOs (Initial Coin Offerings) to raise funds these past few years. However, under the specter of fraud, the ICO model has begun to fail. The industry has turned to traditional IPOs (Initial Public Offerings) to survive, but prospects are so far unclear, leading to a test for the IPO model in the blockchain industry.

 

China’s largest cryptocurrency mining operation, BitChina, has applied to the Stock Exchange of Hong Kong (SEHK) for listing, but the outside world is skeptical about its chances for success. Tencent  News, in “Why is there no chance for mining organizations on the Stock Exchange of Hong Kong? The key is in market adaptability 礦機制造商為何無緣港交所?上市適應性成關鍵 ” writes:

 


港交所總裁李小加就加密貨幣礦機製造商IPO問題,李小加拒絕評論個案,但闡述上市審核大原則,港交所核心原則是上市適應性(suitability)。雖然目前距離比特大陸IPO申請有效時間尚有兩個多月,李小加指,港交所將堅持程序正義,給公司保留申訴權利,但仍堅持上市適應性原則。
Charles Li, Chief Executive Officer of the SEHK, declined to comment on the cryptocurrency miners’  IPO case but explained the principles of listing audits. The core factor for the SEHK is the suitability of the listing. Although they are still two months away from the SEHK’s  judgment, Li reiterated that the SEHK will adhere to procedural rules, including a right to appeal the decision, but must carefully consider market adaptability when judging whether or not a company can be listed.

In addition to IPO applications, some investors have been trying to become listed companies through back door means. ChainDD reports in “Star Xu Buys Hong Kong Listed Firm LEAP Holdings for 48 million HKD, can back door listing be blockchain’s way out? 徐明星4.84億港元收購前進控股,區塊鏈企業借殼上市能否成出路?”:

 


區塊鏈企業借殼上市滿路荊棘,卻也是無奈之舉,火幣在借殼上市的道路上雖然已經布局半年之久,但目前仍是沒有任何聲音,OKEx雖然收購前進控股,至今仍未改組董事會,核心交易所業務也沒有進行平移。
Blockchain enterprise has walked a thorny path, unable to change its own circumstances. Although cryptocurrencies have been on the road to back door listing for half a year, there has been no progress. Although OKEx has acquired a listed company, it hasn’t yet reorganized its board of directors, and the exchange’s circumstances has not changed.

 

對於區塊鏈企業,謀求IPO之路仍是有很大的困難,三大礦機廠商作為食物鏈頂端的實業企業,仍無法通過港交所的審核,交易所IPO之路註定難上加難。
Blockchain enterprises face great difficulty trying to pursue IPOs. The three major mining machine manufacturers, the top industrial enterprises in the blockchain hierarchy, are still unable to pass the Stock Exchange of Hong Kong’s audit. An exchange’s IPO is bound to be even more difficult.
Please follow and like us:
error

發佈留言

發佈留言必須填寫的電子郵件地址不會公開。 必填欄位標示為 *

Wordpress Social Share Plugin powered by Ultimatelysocial
error

Enjoy this blog? Please spread the word :)

RSS
Facebook
Facebook