Avalon Mining Rig Maker Canaan Files for $400M IPO on Nasdaq

Mining rig producer Canaan has filed for an IPO with the U.S. Securities and Trade Fee to lift $400 million on the Nasdaq International Market. Previous to this submitting, the corporate had additionally tried to go public in Hong Kong and China. Credit score Suisse and Citigroup are amongst its underwriters.

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Canaan Files for US IPO

Canaan Inc., a holding firm that owns China-based Canaan Inventive, filed a registration assertion with the U.S. Securities and Trade Fee (SEC) on Oct. 28 for an preliminary public providing (IPO). “We’re providing American depositary shares, or ADSs. Every ADS represents Class A strange shares, par worth US$zero.00000005 per share,” the submitting particulars. The corporate hopes to lift $400 million.

The underwriters named within the submitting for the IPO are Credit score Suisse, Citigroup, China Renaissance, CMBI, Galaxy Digital Advisors, Huatai Securities, and Tiger Brokers….

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