Bitkub Exchange Eyes Hong Kong Ipo As Thai Markets Slump To 5-year...

With Thailand’s markets in turmoil, Bitkub is shifting toward Hong Kong’s thriving equity market for a $200 million IPO raise, Bloomberg reported.

Bitkub, Thailand’s biggest cryptocurrency exchange, is considering an initial public offering (IPO) abroad amid a downturn in the local stock market.

Bitkub is planning to raise $200 million as part of a potential IPO in Hong Kong, Bloomberg reported on Monday, citing unidentified sources familiar with the matter.

Founded in 2018, Bitkub trades about $66 million daily, according to CoinGecko data.

The exchange had considered an IPO in Thailand, targeting a public launch in 2025, which has reportedly been stalled because of volatility and uncertainty in the Thai stock market.

Thailand’s equity market has emerged as one of the most volatile Asian markets in 2025 amid political disputes with Cambodia and looming trade threats.

The Stock Exchange of Thailand (SET), the country’s sole stock exchange, has seen its index drop 10% this year, reportedly slumping to a five-year low in the first half of the year, making it one of the worst-performing markets in Asia.

Despite two consecutive months of stock market gains, foreign investors reportedly continued to offload Thai equities this year, with net selling positions totaling more than 100 billion Thai baht ($3 billion) in the first 10 months of 2025.

Most Asian stock exchanges saw robust gains in H1 2025. South Korea and Hong Kong topped the trend with growth of 27% and 20%, respectively.

Bitkub’s potential listing would expand the Hong Kong exchange’s attempts to attract more listings by non-Chinese companies amid an ongoing IPO boom.

Source: CoinTelegraph