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Chinese company Zhejiang Ebang Communication is working on plans for a listing. The initial public offering will be held in Hong Kong and may attract about $1 billion, Reuters reports.

The company previously decided to leave the listing on the local Chinese stock exchange. In January of this year, representatives announced their intention to get onto the Hong Kong stock exchange.

Zhejiang Ebang Communication is one of the largest Chinese companies producing telecommunications equipment and devices for mining cryptocurrency with revenue in the first six months of 2017 at 237 million yuan.

Earlier, Canaan Creative, the second-largest Chinese producer of equipment for bitcoin mining intends to hold an IPO on the Hong Kong stock exchange. The company also intends to raise $ 1 billion.

By Ekaterina Ulyanova

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