Bitkub Gears Up for IPO

posted  1 Apr 2024
Photo - Bitkub Gears Up for IPO
Thailand's largest cryptocurrency exchange, Bitkub, is preparing for an Initial Public Offering (IPO) on the local stock market in 2025. CEO Jirayut Srupsrisopa has announced that the company is currently seeking financial advisors to prepare the necessary documentation and facilitate the listing process.

Srupsrisopa believes the company's valuation will exceed $160 million, a significant leap from the $16 million valuation during its last private funding round in 2023. He attributes this increase in value to a substantial rise in trading volumes, even surpassing those of the bullish market of 2021, and to the company's stability in its employment strategy.

Bitkub first informed its investors and shareholders about the upcoming IPO in 2023, though at that time, the management did not provide any specific timelines. Additionally, the financial firm SCB X PCL had previously abandoned a private purchase of a 51% stake in the company due to regulatory pressures.