HashKey Shares Drop 3% on Hong Kong IPO Debut

HashKey's IPO Launch and Market Reaction

HashKey's shares declined by 3% on their first trading day in Hong Kong, closing at HK$6.51.
The IPO was priced at HK$6.68 per share, raising HK$1.6 billion ($206 million).
Share prices fluctuated from an opening of HK$6.7 to a high of HK$7.11 before falling.
Nine major investors participated, including UBS AM Singapore, Fidelity, and CDH.

HashKey's Strategic Moves Towards IPO

Chairman and CEO Xiao Feng emphasized compliance as crucial for sustainable growth.
HashKey cleared the HKEX listing hearing on December 1, marking progress towards its public listing.
The company aimed to raise $200 million through investor orders during the IPO process.
The listing reflects HashKey's strategic efforts in the cryptocurrency market.