Animoca Brands Plans to Go Public Next Year – Report

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Animoca Brands, a Hong Kong-based venture capital company is eyeing a public listing in 2025. According to its co-founder and executive chair Yat Siu, the firm is considering going public either in Hong Kong or the Middle East. However, the company has yet to finalize the exact location for its potential initial public offering (IPO).

Animoca to Choose Between Hong Kong or the Middle East

The decision to go public is a strategic move aimed at capitalizing on the burgeoning interest in blockchain technology and digital assets. Notably, this move marks a return to the public markets for the company as it was delisted from the Australian Securities Exchange four years ago. 

By choosing Hong Kong or the Middle East as potential IPO venues, Animoca Brands is looking to tap into regions showing strong support for blockchain innovation and digital asset regulation. With its robust financial infrastructure and status as a global financial hub, Hong Kong presents a compelling option for Animoca Brands. As such, a public listing in Hong Kong would provide Animoca Brands access to a vast pool of investors and a well-established capital market.

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On the other hand, the Middle East, particularly the United Arab Emirates (UAE), has emerged as a significant player in the digital asset space. An IPO in this region would align with Animoca Brands’ vision of expanding its global footprint and tapping into new markets. As Animoca Brands continues to evaluate its options, the potential IPO in 2025 represents a milestone for the company.

Animoca Brands Supports Web3.0 Projects

In December 2023, the Hong Kong-based Web 3.0 group revealed over $ 2 billion in assets. Notably, the value encompasses Animoca Brands’ investments in prominent Web 3.0 projects including infrastructure and gaming.

The data portrayed Animoca’s commitment to supporting other Web 3.0 ventures. According to the report, the firm has invested in more than 400 projects since its inception and none of these investments were in meager sums. Meanwhile, in January, Animoca Brands collaborated with Chess.com and world-renowned chess grandmaster Magnus Carlsen to introduce Anichess, a free-to-play chess strategy game.

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Hong Kong is Digitally Ready

The Hong Kong government is open to the blockchain industry and does not impose taxes on investors or businesses making money from cryptocurrency trading. It is worth mentioning that Hong Kong took the first position as a digitally ready economy according to a readiness report.

Many digital asset institutions have opened offices in Hong Kong due to its welcoming policies surrounding cryptocurrencies. Bybit, a prominent cryptocurrency exchange applied to operate as a “virtual asset trading platform” in the region. On the other hand, following the recent approval of Spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) in the United States, the SAR is planning to list a spot ETF. 

Recall that, Hong Kong’s Securities and Futures Commission (SFC) has seen a need to allow retail investors to trade crypto as against its only professional investor’s policy that has been in place since 2019.

 

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