Animoca Brands is planning to launch an initial public offering (IPO) in a crypto-friendly jurisdiction next year, as reported by The Information on June 26, according to the company’s co-founder Yat Siu.
With a valuation of $5.9 billion in its 2022 fundraising round, the Hong Kong-based company has begun discussions with investment banks but has not yet appointed a formal advisor for the IPO process.
Siu mentioned that they are exploring potential IPO locations, with Hong Kong and the Middle East being top contenders. He stated:
“We believe these regions offer vibrant markets and strategic advantages that align with our vision for growth and innovation in the digital assets space.”
Animoca Brands has established a significant presence in the Web3 ecosystem, investing in projects such as Axie Infinity, the TON Network, and the hi digital payments application.
Siu is a strong advocate for non-fungible tokens (NFTs) and sees their potential to transform sectors like rights management and education by incorporating digital ownership and value.
The company’s investment strategy focuses on harnessing blockchain technology to create new economic models and opportunities in the digital realm.
Australia delisting
Despite past challenges, including being delisted from the Australian Securities Exchange (ASX) in March 2020 due to rule breaches, Animoca Brands is looking forward to leveraging the growing interest in digital assets and blockchain technology.
The planned IPO in 2025 is seen as a strategic move to strengthen its market position and leverage its diverse investment portfolio.
As the global financial landscape increasingly embraces digital assets and blockchain technology, Animoca Brands aims to lead the digital revolution by going public at a time of evolving regulatory environments and growing investor interest.
The upcoming IPO is expected to provide the company with additional resources to drive expansion and innovation initiatives forward.
