Bitmain at work to launch a new IPO: is it a hoax?

Bitmain at work to launch a new IPO: is it a hoax? - Bitmain IPO

Bitmain is ready to launch one new IPO? Is this true or is it a hoax? On September 26, 2018, the Chinese mining giant has filed an IPO request, aninitial public offer. 

Carried out at theHKEX,Hong Kong Stock Exchange, it has never been approved. Therefore, the desire to start an IPO has materialized into a stalemate.

The failure to respond positively to the question highlighted the financial problems that the company experienced during the previous year.

Specifically, Bitman had repeatedly experienced delays and one lack of transparency about the publication of its economic status.

Despite this situation, the news of a new IPO in sight for the current year began to spread from March 2019.

The Bitmain IPO: the request relating to the initial public offering

Already in 2018, the news concerning the launch of the Bitmain IPO, a company operating in the field of development and production of ASIC for various cryptocurrencies such as ZCash, Bitcoin, Dash, Ethereum and Bytom.

However, the request for the initial public offer had not been accepted and, to date, it seems that the Chinese giant is intent on presenting a new one.

To do this, it has diversified its activities, also taking care of the chip sector for artificial intelligence, as well as to reorganize its administration by eliminating unnecessary costs. In addition, a new CEO was also appointed, the chip development expert Haichao Wang.

Bitmain and the new IPO

Probably the recent consistent ones "bullish" trends in cryptocurrency markets, Bitmain has decided to carry out a new IPO after the one presented during the 2018.

According to Bloomberg, the major producer of ASIC is allegedly nurturing the desire to relaunch its IPO by taking advantage of the rise in the value of Bitcoin.

Bitmain Technologies Ltd., in fact, would be willing to start an important collaboration with financial advisors in order to prepare better.

This could occur in the short term: the company intends to present all the documentation useful for the SEC, Securities and Exchange Commission.

Even though the goal of the previous IPO was aimed at raising $ 3 billion, it would currently appear that the same points to raise around 300-500 million dollars from the sale of its shares on the American market.

In all likelihood, it will proceed to exploit the growth of Bitcoin, that has passed the 11.000 dollars. In any case, it should be remembered that Bitmain has not yet released official press releases, which is why it is necessary to wait a few more weeks to obtain more reliable information.