A day later several news reports said that the Hong Kong Exchange (HKEX) was "reluctant to approve Bitmain's initial bitmain public offering", the exchange denied the news and said it was about a voice".
In an e-mail to the news portal, Coin Telegraph, HKEX defined Bitmain's alleged hesitation about an alleged "public offering" (IPO) of initial public bids. When the exchange was requested for verification and details on the status of the IPO of the Mining Encryption Enterprise, it was stated that "HKEX does not comment on the rumors".
Interestingly, the exchange took the trouble to send to Coin Telegraph that the news that is making the rounds is a "rumor", but also refused to comment on the status of the IPO, in both cases. So at this point, the IPO status of Bitmain is all in the air.
On Monday, Crypto-News India had published a newsletter on the "alleged hesitation on the part of HKEX". A source had spoken to Coin Desk stating: "The exchange is very hesitant to approve these bitcoin mining companies because the industry is so volatile." There is the real risk that they could no longer exist in a year. or 2. HKEX does not want to be the first exchange in the world to approve it and kill one of them. "
A lawyer working with the anonymous source said, "he said that HKEX mainly seeks" the appropriateness and sustainability of the business and how risky the business is for retail investors. "Ivy Wong, partner of Baker law firm McKenzie in Hong Kong, the attorney added: "I have seen cases where candidates could meet the basic listing requirements for the three year track record, but they could not convince the HKEx that its business is sustainable. and HKEX was reluctant to grant the approval of a list. "
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