Canaan Creative Secretly Applied for an IPO

Canaan Creative, a major Chinese manufacturer of cryptocurrency mining equipment, “secretly” submitted an application for an initial public offering (IPO) in the United States.

The fact that the manufacturer of ASIC miners under the Avalon brand filed a relevant application with the US Securities and Exchange Commission (SEC) became known from one IPO-oriented blog in the WeChat messenger.

Recall that in March, Canaan attracted
hundreds of millions of dollars in the next round of financing, after which its total capitalization exceeded $ 1 billion. Literally two weeks later, it became known that Canaan Creative was preparing
to apply for an IPO on the Shanghai Stock Exchange and, according to the latest data, the company has every chance of being listed in the category of scientific and technological enterprises.

Earlier it was reported that the company had already considered the possibility of an IPO in New York, but then work in this direction had just begun.

Last May, Canaan Creative filed
application for an IPO on the Hong Kong Stock Exchange, but did not wait for its consideration. Exactly the same fate on this exchange befell and the claims of other manufacturers of equipment for mining cryptocurrency – Ebang and Bitmain.