Hong Kong exchange head clarifies listing rules as IPO hopes dim for cryptocurrency giant Bitmain

  • Mining hardware sales accounted for 94 per cent of Bitmain’s total revenue in the first half of 2018

Charles Li Xiaojia, CEO of Hong Kong Exchanges and Clearing (HKEX). Photo: SCMP/Jonathan Wong

Companies seeking to go public in Hong Kong should show consistency in their business models, according to Hong Kong Exchanges and Clearing (HKEX) chief executive Charles Li Xiaojia, who was speaking on the sidelines of the World Economic Forum in Davos on Wednesday.

His comments were in response to media questions about the status of initial public offering (IPO) applications from the world’s biggest makers of cryptocurrency mining rigs – Bitmain Technologies, Canaan Creative and Ebang International Holdings.

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