Nano Labs files for a $50 mn Nasdaq IPO
The company plans to raise $50 million through an Initial Public Offering on Nasdaq
By Shashank Bhardwaj
Image: Shutterstock
Nano Labs, a Chinese mining chip designer, founded by two former executives at Bitcoin mining hardware maker Canaan, has filed an IPO with Nasdaq to raise approximately $50 million.
The company has filed with the U.S Securities and Exchange Commission (SEC) for its upcoming IPO on Nasdaq–the world's second-largest stock exchange. The founders of Nano Labs, Kong Jianping and Sun Qifeng, own 32.8 percent and 22.3 percent of the stakes in the company. Kong used to be the co-chairman and non-executive director at the rival firm Canaan but left the organisation due to alleged power disputes within the firm.

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