Bitcoin Group announced today that it has suspended its listing application, abandoned its IPO plan, and will return the A$5.9 million raised to investors due to "failure to meet ASX requirements." In a letter to investors, the company said:
Australian regulators ban any predictions on Bitcoin prices. However, Bitcoin Group said that after the Bitcoin mining reward is halved in July this year, it will consider a new round of IPO around September. Bitcoin Group CEO Sam Lee told ZDNet in January that he is very confident about the upcoming IPO and believes Bitcoin is a billion-dollar industry, not a million-dollar industry. Digital CC, a Bitcoin company previously listed on the Australian Stock Exchange, announced in October last year that it would abandon its Bitcoin mining business and instead engage in the development of remittance products and other software, and changed its name to Digital X. Despite the change in business direction of his peers, Lee remains confident in the future of Bitcoin Group and believes they will be able to successfully list on the Australian Stock Exchange. Lee said:
Original article: http://www.zdnet.com/article/asx-listing-rule-forces-bitcoin-group-to-pull-out-from-ipo/ |
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