Bitcoin Group Extends IPO Period, Debut on ASX Delayed Until Dec 11

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Group, whose shares are slated to debut on the Australian Securities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (ASX), has pushed back their listing date to December 11.

The Australia-based startup, whose primary business is the mining of bitcoins, had appeared set to finally go live on November 11 after a year's worth of delays. It would have become the first crypto company to be publicly listed via the IPO process, ahead of Coinsilium, whose scheduled debut is now November 23.

Just over a week ago, the company issued a number of corrective statements regarding its disclosures, “following engagement with ASIC.” The company advised prospective investors to disregard revenue projections stated in the press and profitability information stated on a WeChat posting, and dispelled indications of investment by Australian Prime Minister Malcolm Turnbull.

It has urged investors to only heed information contained in its "Replacement Prospectus" and just released "Supplementary Prospectus".

The latter document contains the aforementioned corrective statements, as well as information on the IPO's extension, which was made in order to give investors time to reconsider their subscription based on the new disclosures.

The IPO's closing date has been moved from October 30 to November 20, the dispatch of holding statements from November 6 to December 6, and the quotation of shares on the ASX from November 11 to December 11.

In addition, the fund launched by BnkToTheFuture for investors is limited to 4.9% of Bitcoin Group's final shareholding, and Australian residents are not eligible.

The father of Sam Lee, Bitcoin Group's CEO, has indicated that he proposed to apply for 5 million shares (A$1 million), or 3% of the 164,870,930 common shares that will exist assuming the offer is fully subscribed.