HashKey Group IPO in Hong Kong: First Publicly Listed Crypto Asset Firm Sets HK$5.95-6.95 Price Range Amid 395x Oversubscription

In Hong Kong, HashKey Group is targeting an IPO with a price band of HKD 5.95-6.95, signaling a mid-to-high pricing stance as demand for regulated crypto exposure persists. Pricing is set for December 15, with trading slated to begin December 17, behind a structured capital raise that aligns with the city’s market standards.

The public tranche attracted strong demand, with oversubscription reported around 395x and total orders near HKD 66.8 billion, drawing roughly 89,000 retail participants. The international placement also posted oversubscription, underscoring broad appetite for a crypto asset listing beyond domestic investors.

Backers include cornerstone investors such as UBS Asset Management, Fidelity International, and DHVC, while global funds from Europe, the US, and China have shown long-term interest. J.P. Morgan and Citi act as joint sponsors, underscoring institutional credibility and cross-border support for this Hong Kong listing of a crypto asset company.