Animoca Brands Considers Hong Kong for Potential IPO, Says Chairman Yat Siu

Siu cautioned, however, that any plans for an initial public offering (IPO) may take “a couple more years to truly form out,” as the current priority is on expanding the business. He also highlighted that shares of Animoca, a privately held company, were recently trading on secondary markets at valuations between $1.5 billion and $3 billion, according to an interview he gave to the South China Morning Post last month. This contrasts with the Animoca’s $5.9 billion valuation during a fundraising round in 2022, as reported by the newspaper.

Siu further explained that the thin trading volumes in secondary markets distort the signals they provide about Animoca valuation. He added that Animoca is not seeking to raise new capital at this stage.

Animoca was previously listed on the Australian Securities Exchange. However, the shares were delisted by the exchange in March 2020, which cited various rule breaches.