Bitcoin Group Postpones IPO Again By A Month

Bitcoin Group, an Australia-based bitcoin miner, seems to be really struggling to get through with its Initial Public Offering (IPO). According to recent reports, it has been postponed by another month in the wake of additional requests made by the Australian Securities and Investments Commission (ASIC), Finance Magnates reported.

According to the press release, the IPO offer period has been extended to 8 January 2015, with a subsequent ASX listing on 20 January, 2016. Citing one of the reasons behind this decision, the report mentions a request by ASIC requiring Bitcoin Group to appoint an “appropriately qualified independent expert” to report on the bitcoin mining process and the bitcoin mining equation contained in the Replacement Prospects.

The updated date for Offer close/ASX Bookbuild close is 8th January 2016, Settlement date is 13th January 2016, expected issue Date is 14th January 2016, expected date of dispatch of holding statements is 15th January 2016 and expected listing Date is 20th January 2016.

The company made the first announcement about pursuing an initial public offering (IPO) on the ASX in October last year. However, it got delayed due to a reprimand by the ASIC in February and two stop orders on its investor prospectus in July.

Earlier reports suggested that the company was expected to go ahead with a proposed listing on the Australian Securities Exchange (ASX) on 11 December 2015.