Canaan Creative plans to raise $ 100 million from the IPO
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Bitcoin mining equipment maker Canaan Creative on Wednesday announced details of its IPO plans, Renaissance Capital reported.
According to this article, Canaan plans to publicize 10 million equity shares with prices ranging from 9 to 11 USD. At this price, the company aims to raise $ 100 million from a public offering. Less than 400 million dollars since the application was filed.
The biggest rival Bitmain also applied to be listed on October 28 through Citi Group, Credit Suisse, Galaxy Digital, and four other issuers. However, Credit Suisse has left the IPO process.
At $ 10 per share, Canaan's fully diluted market value will be $ 1.6 billion. In its filing for the IPO, the company says it currently holds 23.3% of the world's Bitcoin mining equipment market, while Bitmain is said to hold 64.5%, according to his IPO filing. this big.
Tencent News recently reported that the sponsor of Bitmain's IPO this time will be Deutsche Bank. The source did not specify how much Bitmain will raise. However, according to news from Bloomberg on Friday, Bitmain is looking to raise between 300 and 500 million in this IPO.
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