Chinese language crypto mining big Canaan Artistic plans to listing as a publicly traded firm in america in November 2019, in line with an unconfirmed report.

Canaan to concern 1.26 billion shares

Canaan Artistic, which reportedly filed a $200 million preliminary public providing (IPO) request with the U.S. regulators in July, will concern 1.26 billion shares which can be closed on Oct. 20, Chinese language crypto outlet 8BTC reported Oct. 10, citing “individuals with information of the matter.”

The agency reportedly declined to touch upon the information to 8BTC on the time of publication.

Moreover, the corporate has allegedly accomplished all preliminary procedures for its IPO and is planning to succeed in a valuation from $2 billion to $three billion, the report notes.

One among three Chinese language mining giants

As reported, Canaan is among the three main Chinese language crypto mining corporations alongside Bitmain and Yibang Worldwide. If profitable, Canaan may develop into the primary China-based mining agency to launch public buying and selling within the U.S. Canaan’s main competitor, Bitmain, reportedly filed to listing an IPO with the U.S. Safety and Change Fee in June 2019, following the expiration of its IPO itemizing software with the Hong Kong Inventory Change in March.

In response to 8BTC, Canaan co-chairman Jianping Kong claimed weeks in the past that the SEC has an excellent understanding of blockchain and cryptocurrency, noting a big potential for compliant trade companies to go public within the U.S.

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