The proprietor of Thai crypto change Bitkub On-line, which plans to promote shares to the general public subsequent yr, might be valued as excessive as $3 billion, Bitkub Capital Group CEO Jirayut Srupsrisopa mentioned.
Bitkub Capital signaled its intention to promote shares to the general public in a 2023 letter to shareholders that did not give a timeframe. Jirayut instructed Bloomberg earlier this month that an IPO was deliberate for subsequent yr and the corporate was within the strategy of hiring monetary advisers.
Thailand’s largest crypto change offers about 80% of the Bangkok-based guardian’s revenue and is 9.2% owned by Asphere Improvements. The agency was valued at about 6 billion baht ($165 million) in a Collection A fundraising final July, Jirayut mentioned.
“A value to earnings ratio of 10-30 would put our valuation between 1 billion – 3 billion US {dollars},” Jirayut mentioned in a message on LinkedIn when requested about an IPO valuation. He didn’t say how a lot the corporate was trying to increase.
