Chinese cryptocurrency exchanges are seeking reverse mergers in Hong Kong, which allows them to acquire control of publicly traded firms in the city and bypass the lengthy initial public offering process. Photo: Agence France-Presse

Chinese cryptocurrency exchanges seek reverse mergers in Hong Kong as IPO plans of bitcoin mining rig makers falter

  • Parent of OKCoin, the world’s No 2 exchange, recently acquired control of Hong Kong-listed Leap Holdings
  • That deal followed Huobi’s purchase of a majority stake in Pantronics
Topic |   Digital currencies

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Chinese cryptocurrency exchanges are seeking reverse mergers in Hong Kong, which allows them to acquire control of publicly traded firms in the city and bypass the lengthy initial public offering process. Photo: Agence France-Presse
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Charles Li Xiaojia, CEO of Hong Kong Exchanges and Clearing (HKEX). Photo: SCMP/Jonathan Wong

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
Topic |   Bitcoin

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