Altcoin News: Mining Company Canaan Creative “Secretly” Applied for an IPO in the US

July 31, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Canaan Creative, a major Chinese cryptocurrency mining equipment manufacturer, has applied for an initial public offering (IPO) in the US, local media reports, citing a message in one of the IPO-oriented blogs in the WeChat messenger.

According to the information, the manufacturer of Avalon bitcoin miners “secretly” filed a corresponding application with the US Securities and Exchange Commission (SEC).

In March, it was reported that Canaan could attract “several hundred million dollars,” with which its capitalization supposedly exceeded to $1 billion.

Also earlier this year, information appeared that Canaan is considering the possibility of an IPO in New York, but is just beginning to work in this direction. In addition, according to some data, the company may be listed in the section of scientific and technological enterprises on the Shanghai Stock Exchange.

Last year, Canaan filed an application for an IPO on the Hong Kong Stock Exchange, but it expired in November, without waiting for consideration. The same fate on this exchange was waiting for applications from competing companies Bitmain and Ebang.