Animoca Brands Considers Hong Kong For Potential IPO

According to BlockBeats, Animoca Brands co-founder Yat Siu has indicated that Hong Kong is a strong contender for the company's potential initial public offering (IPO). Siu mentioned that the company's headquarters are located in Hong Kong, and with local officials aiming to develop a cryptocurrency hub, digital asset-related activities are expanding in the region. He shared these insights during an interview with Bloomberg Television at a conference in Singapore. However, Siu noted that any IPO plans might take several years to materialize, emphasizing that the current focus is on business development. Last month, Siu told the South China Morning Post that the valuation of Animoca's private stock in the secondary market ranges between $1.5 billion and $3 billion, which is a significant difference from the $5.9 billion valuation during the 2022 funding round. He attributed this discrepancy to low trading volumes in the secondary market, which can distort signals. Siu also mentioned that Animoca Brands is not currently seeking to raise new capital.