Chinese cryptocurrency mining company Canaan Creative intends to go public in the US in November this year, 8btc reported yesterday citing several sources.
In July it was known that Canaan had filed an IPO application with the US Securities and Exchange Commission (SEC). According to the sources, the firm has recently completed all the necessary preliminary procedures and plans to reach a valuation of about 2-3 billion dollars after issuing 1.26B shares.
If the IPO eventually happens, Canaan will become the first of Chinese 3 crypto mining giants (Bitmain, Canaan and Ebang) to go public in the US. Last year, Bitmain, Ebang and Canaan filed an IPO application to go public in Hong Kong.
Kong Jianping, co-lead director of Canaan, said a few weeks ago the SEC has a deep knowledge of blockchain and crypto tech and believes companies in the industry will not have major problems to go public in the US.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.