03887 HASHKEY HLDGS
HASHKEY HLDGS
HASHKEY HLDGS
| Listing Date | 2025/12/17 Listing in 4 Days |
| Listing Price | -- |
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IPO Detail
COMPANY PROFILE
HashKey Holdings Limited offers a licensed digital asset platform to provide transaction facilitation services, on-chain services, and asset management services. The Group’s platform has the capability to issue and circulate tokenised RWAs, and has launched HashKey Chain, a scalable and interoperable Layer 2 infrastructure designed to support on-chain migration.
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The Group is the largest regional onshore platform in Asia by trading volume in 2024, according to the report. Beyond trading, the Group is also the largest on-chain services provider in terms of assets under staking and the largest digital asset manager by AUM in Asia.
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As of September 30, 2025, the Group’s platforms supported a total of 80 digital asset tokens, covering a wide range of categories including major layer-1 assets, DeFi tokens, stablecoins and emerging ecosystem projects.
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The Group’s customer base primarily consisted of institutional customers, including banks, asset managers, family offices, hedge funds, and Web3 developers, omnibus customers, such as licensed securities firms, ecosystem partners, and retail users.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Other Financials |
| Major Business Area | Global |
| Board Lot | 400 |
GLOBAL OFFERING
| No. of Offer Shares | 240.57M shares |
| No. of International Offer Shares | 216.51M shares |
| No. of HK Offer Shares | 24.06M shares |
| Offer Price | $5.95 - $6.95 |
| Stock Code | 3887 |
| Sponsor(s) | J.P. Morgan Securities (Far East) Limited, Guotai Junan Capital Limited, J.P. Morgan Securities (Asia Pacific) Limited, Guotai Junan Securities (Hong Kong) Limited |
| Underwriter(s) | J.P. Morgan Securities (Asia Pacific) Limited, Guotai Junan Securities (Hong Kong) Limited, CMB International Capital Limited, Eddid Securities and Futures Limited, First Shanghai Securities Limited, Futu Securities International (Hong Kong) Limited, Huatai Financial Holdings (Hong Kong) Limited, Tiger Brokers (HK) Global Limited, Victory Securities Company Limited |
TIME TABLE
| Application Period | Dec 09 (Tue) - noon, Dec 12 (Fri) |
| Price Determination Date | Dec 15 (Mon) |
| Result Announcement Date | On or before Dec 16 (Tue) |
| Result Announcement Date | On or before Dec 16 (Tue) |
| Result Announcement Date | On or before Dec 17 (Wed) |
| Dealings in Shares commence on | Dec 17, 2025. (Wed) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $5.95 - $6.95 |
| Capitalization | 16.45B - 19.22B |
| NAV / share ($) | $0.55 - $0.68 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 6.45, the net proceeds raised would be HKD 1.43B, of which |
| 40% : Technology and infrastructure iteration |
| 40% : Market expansion and ecosystem partnerships |
| 10% : Operational and risk management |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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Subscription --
Result Announcement --
Listing --Offer Price︰--
| Currency | : |
| Listing Price | : |
| Board Lot | : |
| Admission Fee* |
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| Subscribing Lot | : |
| Subscribing Fee | : |
| Subscribing Amount | : |
*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).