HashKey Opens IPO Ahead of December 17 Debut

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Crypto Exchange HashKey Opens IPO Ahead of December 17 Debut

Written by Aaron S.,

Editor-In-Chief

Last Updated: December 09, 2025

Key Takeaways

HashKey Group began taking IPO applications on December 9, with plans to list on December 17 and raise up to US$214.7 million;
The crypto exchange is offering 240.6 million shares at HK$0.76 to HK$0.89, which values the company at about US$2.46 billion;
Funds from the IPO will support tech upgrades, ecosystem growth, stronger risk controls, and new hiring efforts.

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Crypto Exchange HashKey Opens IPO Ahead of December 17 Debut

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HashKey Group, Hong Kong’s licensed cryptocurrency exchange, has started accepting applications for its initial public offering (IPO) ahead of its expected debut next week.

The company plans to list its shares on December 17, according to a filing with the Hong Kong Stock Exchange (HKEX).

The firm hopes to collect up to HK$1.67 billion (around US$214.7 million) through the sale. It is offering 240.6 million shares at HK$0.76 to HK$0.89 each. At the higher end, this would value the company at about US$2.46 billion.

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Investors can subscribe for shares online through the HK eIPO White Form or HKEX’s FINI platform until December 12. The subscription period began on December 9.

JPMorgan and Guotai Junan are among the key sponsors supporting the IPO. Funds raised will be used to improve HashKey’s technology infrastructure, expand its ecosystem, strengthen risk controls, and hire new employees, according to the filing.

According to its prospectus, HashKey recorded a total spot trading volume of US$167 billion as of September 30. The company provides a variety of services for both institutions and individual investors, including spot trading, over-the-counter transactions, staking, and tokenization.

It also runs HashKey Chain, an Ethereum ETH $3,117.17 Layer-2 network built for tokenized real-world assets, stablecoins, and decentralized applications.

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