Mining companies listed in Hong Kong are: Jia Nan Yun Chi IPO for failure, in the case of illegal fund-raising Ebang International

In November 15th, according to Reuters news, crypto currency miners (Canaan Chi Yun Chia Nan Inc) Hongkong IPO application submitted in failure after 6 months, after the funding target is about $400 million.

The daily planet reporter access to the Hongkong stock exchange website (HKEx), exchange website in Hong Kong’s “progress” after hearing column, Chia Nan Yun Chi in the “failure” status in the updated list, website, Chia Nan Yun Chi in May 15th this year, the first time to submit the listing application.

 Mining companies listed in Hong Kong are: Jia Nan Yun Chi IPO for failure, in the case of illegal fund-raising Ebang International

Public information, Chia Nan Yun Chi was founded in April 2013 in Beijing, Avalon (Avalon) series of machine manufacturers encryption currency. According to the prospectus disclosure, Chia Nan Yun Zhi 2017 global bitcoin mining machine is expected to total shipments of 294 thousand and 500 units, accounting for 20.9% of the global market share of shipments accounted for by the calculation of stress; the global market share of 19.5%, ranked the world’s second largest bitcoin mining machine manufacturers.

Earlier this year, Jia Nan Yun Chi plans to seek $1 billion of funds, but the Reuters reported in August, Jia Nan Yun Chi reduced financing plan scale, reduced to about $400 million.

Informed sources said that although Jia Nan Zhi Yun stressed that AI itself, but in view of encryption currency instability, the Hong Kong Stock Exchange and Hongkong financial regulators to model and prospect the company questioned. Jia Yun Zhi Nan if plans to restart the IPO program, the company may provide the latest financial information in the IPO application.

According to the Listing Rules of Hongkong stock exchange and IPO provide guidance, the issuer can reactivate the listing application, but after the failure, the company must submit a new application before the application will be deemed obsolete, and new applications should start in three months.

Jia Yun Zhi Nan review the listing process, the process of striking one snag after another. Before the listing in Hong Kong, Chia Nan Yun Chi tried to backdoor listed companies luyitong (300423) for the A shares listed, June 2016, the GEM stocks luyitong planned price of 3 billion 60 million yuan to acquire 100% stake in Chia Nan Yun chi. But after the merger due to the proportion of top two shareholders, to circumvent the backdoor of the suspect, Jia Nan Yun Chi overvalued and given high performance commitments and other reasons, the mergers and acquisitions of exchange was strict supervision, three degrees to inquire after the termination.

In addition to Jia Nan Yun Zhi, the other two domestic miners, and bit Tianhe International were also in June this year and September listed in Hong Kong, the application of IPO the two miners also need to be approved by the Hongkong stock exchange. But according to Reuters quoted a direct source said, Tianhe International may not be listed in this year. And according to sina finance news November 1st, Tianhe International suspected involvement in the silver bean network of illegal fund-raising case, by the Hongkong Stock Exchange suspended listing program.

At the same time, Reuters quoted informed sources, the mainland is still in the answer bit from HK Stock Exchange and the securities and Futures Commission (SFC) issues.

For this, Jia Nan Yun Zhi and bit, refused to respond, Tianhe International has yet to reply.

Just a few weeks ago, the Hongkong securities and Futures Commission (SFC) issued a new rules for the management of encryption currency company. The SFC said, “according to a significant risk of fictitious assets to investors, all licensed portfolio management company intends to invest in virtual assets (whether or not these virtual assets constitute” securities “or” futures contract “), regardless of whether they are management of the portfolio is complete or part of the investment in the virtual assets are basically the same shall comply with the regulations.

In addition, regulatory upgrades to bring pressure this morning, bitcoin fell below $5700 mark, became the lowest in 2017 years, 10 months, in fact, a digital currency market this year is not optimistic, but also makes the miners IPO situation is quite difficult.

(I’m a reporter exchange of aloe, please add WeChat 1012387983, please note Name, unit, position and reason.)

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