Bitmain Files for Deutsche Bank-Backed IPO in the US
Bitmain Technologies which is based in China has filed an application for an Initial Public Offering (IPO) with the United States Securities and Exchange Commission (SEC). They filed for Bitmain IPO in USA.
According to Tencent News citing anonymous “informed sources,” German multinational Deutsche Bank is sponsoring the application. The amount aimed to be raised by the offering is yet to be made known.
Tencent News reports that the IPO plans have been dominated by Bitmain co-founder Jihan Wu and Chief Financial Officer Liu Luyao.
The firm has also hired Zheng Hua, former Nasdaq representative for China, as a consultant to the firm. The SEC’s review process will require three rounds of inquiries and last an estimated minimum of 1-2 months.