CEO of the Hong Kong stock exchange (HKEX) Whether Saisa said that companies that are applying for IPO must demonstrate a “sustainable” business model. A radical change of direction activities, in his opinion, can only indicate the lack thereof. It is reported by CoinDesk, citing a news blog technology giant Tencent.
Answering the question about the applications of mining companies, Saisa stressed that HKEX is important to understand that, despite the change of directions, the first business model is still profitable. At the same time, according to him, in the course of consideration of applications, the exchange assesses the adaptability of companies to changing market conditions.
We will remind, manufacturers of equipment for mining Bitmain, Canaan Creative and Ebang submitted IPO application to HKEX, but still not received approval.
Earlier media reported that HKEX is concerned about the unstable situation in the cryptocurrency market.
I should add that exchange OKCoin has received approval for the purchase of HKEX 60,49% of the shares of a public company LEAP Group Holdings, which may allow her soon to enter the stock exchange without an IPO.