The Hong Kong stock exchange (HKEX) withdrew application mining-company Canaan Creative for an initial public offering (IPO). It is reported by CoinDesk.

In the database HKEX bid Canaan is listed as “invalid” because the date of filing has been more than six months.

However, according to the rules, the initiator of the IPO within three months can restore removed from the consideration of the application.

Executive Director, Canaan Creative has refused to comment on the situation.

Note that the background of the high volatility of the cryptocurrency market at HKEX and financial regulators in Hong Kong have any question about the business model of the Canaan Creative.

We will remind, the Canaan Creative application for the IPO was filed on may 15. Initially, the company planned to raise $1 billion, but later reduced the amount to $400 million.

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