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.
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