HashKey Holdings HK$1.6 Billion IPO and HKEX Listing

Davis Polk represented HashKey Holdings Limited in its initial public offering and listing on the Hong Kong Stock Exchange. Davis Polk advised HashKey Holdings Limited on its initial public offering and listing on the Hong Kong Stock Exchange in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$1.6 billion, before giving effect to the exercise of the over‑allotment option. This transaction represents the first crypto exchange IPO on HKEX. HashKey offers a licensed digital asset platform providing transaction facilitation services, on‑chain services and asset management services. According to Frost & Sullivan, HashKey is the largest regional onshore digital asset transaction facilitation platform in Asia by trading volume. Davis Polk represented client(s) HashKey Holdings Limited with a team composed by: partners Li He and Jason Xu; counsel – registered foreign lawyer Xi Shi and Kevin Zhang; registered foreign lawyer Eva Xu; associates Calvin Lam and Tina Ye. Counsel Sarah E. Kim provided 1940 Act advice. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Members of the Davis Polk team were based in the Hong Kong, Beijing, New York and London offices.

HashKey Holdings HK$1.6 Billion IPO and HKEX Listing

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