February 22, 2024

Canaan Creative will conduct an IPO in the United States

Canaan Creative will conduct an IPO in the United States

Canaan Creative – the second largest manufacturer of mining equipment in China – plans to holdpublic offering (IPO) in the U.S. in November 2019.

According to 8BTC, the companybased in Beijing, it issues 126 million securities, which will be closed until October 20. A request for an initial public offering of shares in the amount of $ 200 million to the US regulatory authorities the company filed in July.

Although Canaan is less known onIn the West than its competitors, such as Bitmain and Ebang International, it remains one of the three main Chinese players in the mining equipment market.

If the IPO goes ahead, CanaanCreative will significantly outperform its competitors. Bitmain Technologies and Ebang International also filed for an IPO in Hong Kong last year but abandoned their plans to list on HKEX.

Now listing on the yet unknown US stock exchange means that Canaan will be the first participant in the Chinese market to successfully enter the US market, according to media reports.