Bitkub Capital Group Holdings, the company behind Thailand’s largest cryptocurrency exchange, is preparing for an initial public offering in 2025, according to a Bloomberg report citing its CEO Jirayut Srupsrisopa.
Jirayut, also known by his business name Topp, reportedly said that the IPO is expected to help promote the company's profile and raise capital. The company is currently hiring financial advisors for the IPO, the report said. The Bitkub CEO said that the valuation of the Bitkub Online crypto exchange will grow higher as its trading volumes have surpassed levels seen during the previous bull cycle in 2021. The crypto trading platform is currently valued at 6 billion baht , according to the report.In a letter posted in February, Bitkub told shareholders that the company is also exploring the potential of listing in Hong Kong, to boost its global visibility.
Bitkub exchange processed around $81.5 million in spot trading volume in the last 24 hours, according to data from CoinMarketCap. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures.