Animoca’s Timeline to Go Public Would Depend on The Market’s Status: Yat Siu

As a seasoned crypto investor with over a decade of experience under my belt, I find Animoca Brands’ potential public listing intriguing. Having navigated through multiple market cycles and witnessed the rise and fall of numerous projects, I can appreciate the strategic patience Yat Siu is demonstrating. The decision to go public hinges on the market’s status, a prudent approach given the volatile nature of our industry.

Animoca Brands, based in Singapore, plans to become publicly traded soon, but the exact timing depends on market conditions and other factors, as stated by the company’s chairman, Yat Siu, during a conversation with CoinDesk this week.

It was previously announced that Animoca, a significant player in the Web3 sector, has long harbored ambitions to take their operations public.

A report in June said the location would be either Hong Kong or the Middle East.

As a crypto investor, I find myself drawn to Hong Kong as a strong contender for our company’s headquarters due to its geographical location where our business resides. According to recent reports by Bloomberg, this city seems to be an appealing choice for us.

Siu explained to CoinDesk that it requires some patience due to the numerous variables at play, making it challenging to set an exact schedule.

Siu informed CoinDesk that we’re right in the middle of the audit process, an essential part of the jigsaw for the Initial Public Offering.

In simple terms, it’s known that DFK Collins from Australia serves as the auditor for Animoca Brands. This was confirmed by Siu. He mentioned that one of the steps companies take when planning to go public is to undergo an audit, which helps build trust in the market and among institutions. It’s a common practice that demonstrates transparency and reliability.

Initially, Animoca was a publicly traded company based in Australia. However, it was delisted from the stock exchange in 2020 due to regulatory issues related to cryptocurrencies.

It’s likely not surprising that our growth spiked significantly during the period when we were removed from the ASX, as we had the freedom to execute strategies that, quite frankly, we couldn’t pursue due to restrictions and lack of understanding at the time by the ASX,” Siu explained to the Australian Financial Review in 2022.