[NEWS] Animoca Brands plans to relist in 2025, reports The Information

Animoca Brands, a leading company in the blockchain gaming and metaverse fields, is planning to go public in 2025.

The Information reported that co-founder and chairman Yat Siu made the statement.

Animoca has a strong portfolio focused on NFTs and blockchain gaming companies. It has established itself as a key player in the digital asset space.

It has successfully invested in a variety of high-profile projects, including popular blockchain gaming platforms Axie Infinity, The Sandbox, TON Network, and innovative digital payment apps.

Siu suggested that an IPO could take place as early as 2025. The company has begun discussions with investment banks for an IPO, but has not yet finalized an IPO advisor or a specific listing market.

Past delisting from the Australian Securities Exchange in 2020

Animoca Brands was previously listed on the Australian Securities Exchange (ASX), but was delisted in 2020. The cause was issues raised by the ASX in December 2019.

The concerns raised questions about the company's governance and the use of SAFEs (Simplified Agreements for Future Shares) in its subsidiaries.

Despite submitting a 39-page report to address these concerns, the ASX decided to delist.

Since its delisting, Animoca has continued to operate and expand without significant disruption. Shareholders retained ownership of their shares through Automic, Animoca's share registrar, and could have chosen to sell their shares privately. Animoca had refused to buy back shareholders' shares, citing the lack of a shareholder mandate.

Siu later described the ASX delisting as a "blessing." He noted that Australia's regulatory framework was hindering the company's growth. Siu's views were shared in an April 2022 report, in which he highlighted the restrictive nature of ASX regulations.

A 2022 funding round valued Animoca at $5.9 billion. After that, the company continued to explore ways to expand its business and create value for shareholders.

The company's upcoming public offering is aimed at securing a platform that aligns with its business activities in GameFi and the metaverse.

As Animoca prepares to relist, which market it chooses will be crucial. Both Hong Kong and the Middle East have regulatory environments that support cryptocurrency ventures and are expected to be suitable bases for Animoca's plans.

In addition to being Animoca's base, Hong Kong has the advantage of having a well-developed financial infrastructure. The Middle East, especially Dubai and Abu Dhabi, are also fast-growing markets with growing interest in digital assets and cryptocurrencies. It has also been revealed that the company has received a $50 million investment proposal from Saudi Arabia's smart city project "NEOM."

Animoca's journey reflects the challenges and opportunities in the blockchain gaming and metaverse space, highlighting the importance of regulatory alignment for growth and success.

References: Press, Animoca Brands FAQ
Image: Shutterstock

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