Chinese Mining Giant Canaan to Go Public in US in November: Sources

Chinese language crypto mining large Canaan Inventive plans to checklist as a publicly traded firm in america in November 2019, based on an unconfirmed report.

Canaan to problem 1.26 billion shares

Canaan Inventive, which reportedly filed a $200 million preliminary public providing (IPO) request with the U.S. regulators in July, will problem 1.26 billion shares which can be closed on Oct. 20, Chinese language crypto outlet 8BTC reported Oct. 10, citing “individuals with data of the matter.”

The agency reportedly declined to touch upon the information to 8BTC on the time of publication.

Moreover, the corporate has allegedly accomplished all preliminary procedures for its IPO and is planning to succeed in a valuation from $2 billion to $three billion, the report notes.

One among three Chinese language mining giants

As reported, Canaan is likely one of the three main Chinese language crypto mining corporations alongside Bitmain and Yibang Worldwide. If profitable, Canaan might grow to be the primary China-based mining agency to launch public buying and selling within the U.S. Canaan’s main competitor, Bitmain, reportedly filed to checklist an IPO with the U.S. Safety and Trade Fee in June 2019, following the expiration of its IPO itemizing utility with the Hong Kong Inventory Trade in March.

Based on 8BTC, Canaan co-chairman Jianping Kong claimed weeks in the past that the SEC has an excellent understanding of blockchain and cryptocurrency, noting a major potential for compliant business companies to go public within the U.S.

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