Bitcoin Group to finally go public after more than a year of delays

After three revised prospectuses, a reprimand from ASIC and two stop orders, Bitcoin Group is finally set to go public next month.

The Melbourne-based bitcoin mining firm’s IPO will close on January 25 and is expected to begin trading on the ASX under the ticker ‘BCG’ on February 2.

It aims to raise $20 million by selling 100 million shares valued at 20 cents each.

The startup first announced intentions for the IPO back in October 2014 and was set to list in December before pushing back the date to “respond to issues raised by ASIC”.

Bitcoin Group co-founder Sam Lee told StartupSmart last year that the listing is about giving the bitcoin industry accountability and transparency.

“The public offer will mark a significant milestone for our company and for the broader industry because it will help to advance recent regulatory initiatives by the federal government, aimed at bringing clarity and accountability around the benefits of bitcoin to Australian consumers and businesses,” he said.

“This is good for investors who, ultimately, will be better place to make informed decisions about the role and merits of a company like Bitcoin Group.”

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