(Bloomberg) -- Hong Kong is a “strong contender” for a potential listing of crypto venture investor and blockchain game developer Animoca Brands Corp., its Chairman Yat Siu said.
That’s in part because the company is headquartered in the city, where digital-asset related activity has expanded as officials seek to develop a crypto hub, Siu said in a Bloomberg Television interview at a conference in Singapore.
But any plan for an initial public offering may take a “couple more years to truly form out” and the focus is on building the business, he said Wednesday.
Shares in closely held Animoca were trading on secondary markets at valuations between $1.5 billion and $3 billion, Siu told the South China Morning Post last month. That compares with a $5.9 billion valuation in a fundraising round in 2022, the newspaper reported.
Thin trading volumes distort signals from secondary markets, Siu said, adding that the company is not seeking to raise new capital.
--With assistance from Adrian Wong.
©2024 Bloomberg L.P.
