Australian Regulators Issue Stop Order For Bitcoin Mining Company’s Pre-Prospectus Publications
The ambitions of a Melbourne-based bitcoin mining pool, Bitcoin Group, to go public has have have been put on hold by the country’s regulators. The company announced back in October of 2014 that they are pursuing an IPO on the Australian Securities Exchange (ASX), around to the Sydney Morning Herald. But a stop order on pre-prospectus publications by the mining company has been issued by the Australian Securities & Investments Commission (ASIC), has put a stop on that dream for now. “ASIC will often review pre-prospectus advertising or publicity to ensure legal requirements are being met.....
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Bitcoin Group, the Australia-based bitcoin mining business, has become a digital currency initiative to list on the Australian Securities Exchange (ASX). Being the first IPO of its class, the company is ecstatic to set “a precedent.” Initially, the company had a hard time with two prior stop orders on the first and second prospectus, September 10, was a....
Australian bitcoin miner Bitcoin Group has released another prospectus, now filed with the Australian Securities and Investments Commission (ASIC), a move that also saw the company postpone its initial public offering on the Australian Securities Exchange (ASX). Cryptocurrency miner Bitcoin Group has released yet another prospectus while delaying its listing on the ASX to address concerns put forth by the ASIC. The company was asked by the commission to appoint an “appropriately qualified independent expert” to explain the bitcoin mining process involved in mining the cryptocurrency. The....
Australian bitcoin mining firm Bitcoin Group is scheduled to make its long-delayed debut on the Australian Securities Exchange (ASX) in early February. Reports state the firm will list under the code 'BCG' with the aim of raising AU$20m ($13.9m) via the sale of 100 million shares at an issue price of 20 cents. The close date for the IPO is now January 25, while trading is expected to commence on 2nd February. The news comes over a year after the Melbourne-based company first announced its intention to list in October 2014. The process has since been held up following a reprimand from the....
By issuing a stop order, the Australian Securities and Investment Commission (ASIC) has further stalled the initial public offering (IPO) requested by Bitcoin mining company Bitcoin Group Limited (BGL, or simply: Bitcoin Group). The reason for this stop order is as of yet not known. A stop order is an administrative mechanism that allows ASIC to prevent offers being made under a disclosure document, which is presented to prospective buyers of Bitcoin Group shares. Such a measure can be taken when ASIC believes the IPO contains a misleading statement, requires additional information, or if....
Bitcoin Group is to make its third attempt to IPO this November, following two stop orders from the Australian Securities and Investments Commission (ASIC). The Melbourne firm first announced it would pursue an initial public offering (IPO) on the Australian Securities Exchange (ASX) last October, however it has faced delays following a reprimand by the regulator in February and two stop orders on its investor prospectus in July. According to the Sydney Morning Herald, the firm lodged an updated prospectus last Friday after ASIC lifted its second stop order. Its listing date is now set for....