New Stock News | HASHKEY HLDGS (03887) the public offering has ended with total subscriptions of 50.6 billion Hong Kong dollars, oversubscribed by 301.6 times.

Hong Kong-licensed virtual asset trading platform Hashkey Exchange's parent company HASHKEY HLDGS (03887) will be listed from December 9th to 12th. HASHKEY HLDGS plans to issue 240 million shares with an offering price between 5.95 HKD and 6.95 HKD, raising up to 1.67 billion HKD. The subscription period for HASHKEY ends on December 12th, and HASHKEY has temporarily obtained a loan of 5.06 billion HKD from brokers for oversubscription of 301.6 times. Each lot of HASHKEY consists of 400 shares, with an entry fee of 2,808 HKD. It is expected that HASHKEY will be listed for trading on December 17th. Morgan Stanley, Guotai Haitong, and GUOTAI JUNAN I are the joint sponsors. HASHKEY has the right to adjust the offering size, with the ability to issue an additional 30% of shares. After listing, they can also exercise the right to issue an additional 15% of shares through rights issues. HASHKEY does not have a mandatory clawback mechanism, with public offerings accounting for 10% and the overall coordinator being able to increase it to a maximum of 15%. HASHKEY has introduced 9 cornerstone investors including UBS, Fidelity Investments, CDH, Xinting Fund, Infini, DEEP SOURCE (00990), LITONG, Space Z PTE. LTD., and Shining Light Grace Limited, with a total investment of 75 million USD (approximately 590 million HKD). The prospectus shows that HashKey is a comprehensive digital asset company, providing a licensed digital asset platform to offer trading facilitation services, on-chain services, and asset management services. The company's platform has the ability to issue and circulate tokenized real-world assets, and has launched HashKey Chain, a scalable, interoperable Layer 2 infrastructure to support on-chain migration. The company has become a mature comprehensive digital asset company in Asia, with worldwide operations, constructing a digital asset ecosystem by providing end-to-end financial infrastructure, technology, and investment management. According to Frost & Sullivan data, based on trading volume by 2024, the company is the largest regional onshore platform in Asia, and the largest platform in Hong Kong, with a market share of over 75%. Besides trading operations, the company is also the largest on-chain service provider in Asia and the largest digital asset management institution based on assets under management, demonstrating its leadership in various business sectors. The company's products cover various aspects of digital asset-related products, including trading facilitation services, on-chain services, and asset management services. As of September 30, 2025, the company's platform supports 80 digital asset tokens, covering multiple categories, including major Layer-1 assets, decentralized finance (DeFi) tokens, stablecoins, and emerging ecosystem projects. The company's Hong Kong platform supports trading of USDT, BTC, ETH, USDC, SOL, LINK, AVAX, DOGE, UNI, XRP, and more, while its Bermuda platform supports trading of multiple digital assets, totaling 72 categories.