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Diya Poddar

HashKey’s $206 million Hong Kong IPO debuts with heavy oversubscription and price swings

HashKey, described as Hong Kong’s largest cryptocurrency exchange, began trading on the HKEX main board on Wednesday after completing a $206 million IPO. The deal was sharply oversubscribed across retail and international tranches, but the first trading session saw the share price briefly rise before slipping below the IPO level. The offering, which sold 240 million shares and attracted nine cornerstone investors, is seen as part of a broader lineup of crypto firms targeting public listings in 2025.
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