Animoca Brands, a venture investor in crypto and developer of blockchain games, is considering listing its shares in Hong Kong. This was stated by the company’s chairman Yat Siu in an interview with Bloomberg Television.
Potential Listing in Hong Kong
During a conference in Singapore, Yat Siu mentioned that the reasons for this decision include the company's headquarters being located directly in Hong Kong and the increasing digital asset-related activity in this region. A June report suggested that the IPO location could be either Hong Kong or the Middle East.
Company’s Development and Investments
The company is known for its investments in NFTs and crypto gaming companies, including projects like Axie Infinity, the TON Network, and the payment application hi. In the future, Animoca plans to continue expanding despite the fact that an IPO may take a few more years to form out.
Prospects and Current Valuation
Yat Siu also noted that shares of the private company Animoca Brands have recently been trading on secondary markets with valuations between $1.5 billion and $3 billion. This contrasts with its $5.9 billion valuation during a 2022 fundraising round. Thin trading volumes on secondary markets, according to him, distort signals about the company's valuation. At this stage, Animoca is not seeking to raise new capital.
Previously, Animoca was listed on the Australian Securities Exchange, but the shares were delisted in March 2020 due to various rule breaches.
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