One of the Largest Mining Equipment Manufacturers, Canaan Intends to Launch Its IPO


On May 16, Bloomberg reported that Canaan Creative, which specializes in the production of Bitcoin mining equipment, intends to issue its IPO by July of this year.

Presumably, Canaan, which confirmed rumors of the launch of an IPO this week, could create the largest offer of shares in the Chinese market. Of course, the situation will clear up as soon as the auction on the Hong Kong Stock Exchange.

Bloomberg claims that, despite the fact that the purpose of attracting investment remains unknown, the company can attract about 1 billion dollars. It should be noted that such actions will only strengthen competition in the market of equipment for mining. At the moment the company controls about 15% of this market.

It should be noted that Morgan Stanley, Deutsche Bank AG, Credit Suisse Group AG and CMB International Capital Ltd. have already shown interest in the company’s IPO.

As it became known, Canaan still has not given official confirmation of this information.

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