HashKey IPO Launch Date Out: Check Subscription and Listing Price

HashKey IPO Raises $1.67B with Strong Backing Ahead of Official Launch

HashKey Holdings – operator of Hong Kong’s largest licensed crypto exchange, has officially launched its HashKey IPO under the 03887.HK stock code and will debut on the Hong Kong Stock Exchange on December 17. This makes it the first truly licensed crypto-listed company under the city’s strict virtual asset regulatory regime.

Source: HashiChain News

IPO Structure: Strong Demand and Institutional Confidence

Before the official launch the platform has opened the HashKey IPO subscriptions from December 9–12, with shares priced between HK$5.95–$6.95.

Key details include:

• Lot Size: 400 shares

• Subscription Amount per Lot: HK$2,808.04

• Planned Fundraising: $1.426 billion to $1.67 billion in HK

• Valuation at Upper Range: ~HK$19 billion

The exchange is offering nearly 241 million shares globally, with 10% (24.0572 million shares) for the native public and the remaining 90% (approx. 217 million shares) for international placement.

The IPO is co-sponsored by JPMorgan Asia and Guotai Junan, signalling confidence from major financial institutions. But this strong confidence is only the beginning, with more momentum likely to build ahead.

Heavyweight Institutional Support

A defining feature of the exchange's IPO is its strong lineup of cornerstone investors, who are subscribing to $584 million worth of shares, representing 37.63% of the total offering. Participants include:

UBS AM Singapore, Fidelity Investments, CDH, Xinting Fund, Infini, Space 2 PTE LTD, Zhiyuan, Litong, and Shining Light Grace Limited.

This blend of asset managers, private equity firms, and global funds shows rising institutional confidence in regulated crypto infrastructure.

Platform’s Expanding Web3 Footprint: Growth Plans

Founded in 2018, the exchange operates across crypto trading, custody, asset management, brokerage, and tokenisation. It holds regulated licenses in HongKong, Singapore, Japan, and Bermuda, and is pursuing approvals in the EU and MENA, where its Global MENA exchange launched in May 2025.

The public disclosures shows, that in the first half of 2025, the platform processed HK$214 billion ($27.5 billion) in trading volume, over 3× more than OSL, its closest regulated competitor.

And now with its HashKey IPO funds, the company plans to:

• Scale technology and infrastructure

• Strengthen risk management systems

• Expand Workforce globally

• Support tokenization and RWA programs

This reflects HashKey’s ongoing growth trajectory, while more importantly, the platform is helping pave the way for HongKong’s broader development in the digital asset space.

A Major Test of Hong Kong’s Crypto Ambitions

Hong Kong aims to establish itself as a digital-asset hub, with 11 licensed exchanges operating under its regime. The HashKey IPO will be a crucial indicator of investor appetite for regulated crypto businesses amid market volatility and China’s ongoing restrictions.

A successful listing could accelerate:

• Virtual asset regulation adoption

• Stablecoin legislation

• RWA (real-world asset) tokenisation programs

• Institutional participation in Hong Kong’s Web3 economy
  

With strong global backing and high trading volumes, the exchange is gradually positioning itself as a key player in Hong Kong’s regulated future.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.