Canaan Creative, China’s second-largest bitcoin mining hardware maker, is planning to seek an initial public offering in Hong Kong instead of the US, which if successful would make it the first blockchain-related company to list on the city’s bourse, according to people familiar with the matter.
The Hangzhou-based company is seeking to raise as much as US$1 billion for its IPO, the people said, asking not to be identified because the process isn’t public. Canaan had previously said it was considering both Hong Kong and the US for a share sale. A final decision has not been made and things can still change, according to the people. Canaan declined to comment on its listing plans.