Animoca’s IPO Plan Depends on Market

Animoca Brands hopes to go public soon, but the final decision on the timeline depends on “many factors as well as the market situation,” Yat Siu, president of the Web3 giant, told CoinDesk in an interview.

Animoca, a major investor in the Web3 space, announced plans to go public earlier this year.

The statement released in June stated that the location would be either Hong Kong or the Middle East.

According to Bloomberg, Siu reported that Hong Kong was a “strong option” for the company to be headquartered in the same city.

Explaining that the process will take time, Siu said that it is difficult to give an exact time frame because there are so many factors and that they are currently in the inspection phase.

Confirming that Australia’s DFK Collins is Animoca’s auditor, Siu said the need for an audit was one of many confidence-building measures sought by the market and institutions.

Animoca, previously a publicly traded company in Australia, was de-listed in 2020 due to regulatory concerns around crypto.