Animoca in preliminary talks to launch IPO in crypto-friendly region at $6 billion valuation News ▸ Hong Kong · Middle East ▸ Trading
Animoca in preliminary talks to launch IPO in crypto-friendly region at $6 billion valuation
Siu revealed that the company is evaluating potential listing locations, with Hong Kong and the Middle East emerging as key contenders.
2 min read
Updated: Jun. 26, 2024 at 8:31 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Animoca Brands is looking to go public next year in a crypto-friendly jurisdiction, the Information reported on June 26, citing the firm’s co-founder Yat Siu.
According to the report, the Hong Kong-based company, valued at $5.9 billion in its 2022 fundraising round, has initiated talks with investment banks but has yet to appoint a formal adviser for the listing process.
Siu revealed that the company is evaluating potential IPO locations, with Hong Kong and the Middle East emerging as key contenders. He added:
“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 carved out a significant niche in the Web3 ecosystem, investing in various high-profile projects, including the popular blockchain-based gaming platform Axie Infinity, the decentralized TON Network, and the innovative digital payments application hi.
Siu has been a vocal advocate for the transformative potential of non-fungible tokens (NFTs) and believes they could revolutionize sectors like rights management and education by embedding digital ownership and value.
The company’s investment strategy focuses on leveraging blockchain technology’s potential to create new economic models and opportunities in the digital realm.
Australia delisting
Despite its current success, Animoca Brands has faced challenges in its journey. The company was previously listed on the Australian Securities Exchange (ASX) but was delisted in March 2020 due to various rule breaches. This delisting prompted the company to reconsider its strategy and seek alternative avenues for growth and capital raising.
Looking ahead, Animoca Brands is poised to capitalize on the growing interest in digital assets and blockchain technology. The potential IPO in 2025 represents a strategic move to enhance its market presence and leverage its extensive portfolio of investments.
The company’s decision to go public comes at a time when the global financial landscape is increasingly embracing digital assets. With regulatory environments evolving and investor interest in blockchain technology on the rise, Animoca Brands aims to position itself at the forefront of this digital revolution.
The upcoming IPO is expected to provide the company with additional resources to fuel its expansion and innovation efforts.
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Author 
Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
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Axie Infinity
$6.40435
Axie Infinity is a game about collecting and raising fantasy creatures called Axie, on Ethereum platform.
TON
$5.50357
TON is a third-generation proof-of-stake blockchain designed in 2018 by the Durov brothers, the founders of Telegram Messenger.
Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner and ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification.