Animoca Brands Weighs IPO Options in Hong Kong, Middle East as Valuation Soars

Web 3 firm Animoca Brands is preparing to go public in
2025, potentially in key financial hubs in Hong Kong or the Middle East, The
Information reported. The company, renowned for its investments in NFTs and
crypto gaming, is currently in talks with investment banks but has yet to
pick an adviser for the IPO, according to Co-founder Yat Siu.

Nearly $6B Valuation

This decision followed a period of significant growth
and a boost in valuation, with the company being valued at $5.9 billion during
its last funding round in 2022. Siu has disclosed that the firm has been in
discussions with several investment banks. However, they have not yet appointed
an official adviser to guide them through the IPO process.

Animoca Brands has a robust portfolio, focusing
primarily on non-fungible tokens (NFTs) and crypto gaming companies. This focus
has positioned Animoca as an important player in the digital asset space. The
decision between Hong Kong and the Middle East as potential venues for the IPO
will be crucial.

Currently, Hong Kong offers proximity to Animoca’s
significant market in Asia and a well-established financial infrastructure. On
the other hand, the Middle East, particularly hubs like Dubai and Abu Dhabi,
presents a rapidly growing market with increasing interest in digital assets
and blockchain technology.

Recently, more companies in the US have announced plans to go public, the latest being Marex Group, a UK-based financial services
platform. According to a report by Finance Magnates, the group has filed for an
IPO of its ordinary shares with the Securities and Exchange Commission (SEC).

More Firms Eye IPOs

The company reportedly aims to list its shares on the
Nasdaq stock exchange under the ticker symbol “MRX.” Barclays,
Goldman Sachs & Co. LLC, Jefferies, Keefe, and Bruyette & Woods have
been appointed as the joint lead book-running managers for the proposed
offering.

Meanwhile, the SEC has developed comprehensive rules
to bolster investor protection in Special Purpose Acquisition Companies and
their subsequent business combination transactions, commonly known as de-SPAC
transactions.

SPACs have increasingly been adopted as an alternative
method for private companies to go public. Given the challenges involved in
such transactions, the regulator has highlighted the importance of adopting
rules similar to those of traditional IPOs.

This article was written by Jared Kirui at www.financemagnates.com.
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