Bitcoin mining company Canaan prices IPO at $9, the low end of the range

Canaan, a fabless designer of Bitcoin mining equipment, raised $90 million by offering 10 million ADSs at $9, the low end of the range of $9 to $11. At the offer price Cannan commands a market cap of $1.4 billion.

Canaan plans to list on the Nasdaq under the symbol CAN. Citi, China Renaissance and CMB International Capital acted as lead managers on the deal.

The article Bitcoin mining company Canaan prices IPO at $9, the low end of the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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