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Temasek Declines Contributing to Bitmain's IPO Following False News

A month ago, a broadcasting company announced that Temasek was a main financier in Bitmain’s pre-IPO in the supporting phase. Its financing for the pre-IPO purportedly amounted to $0.56 billion. Responding to the news, Temasek expressed: 


 

"We have observed comments associating the first sale of stock of a cryptographic money organization, Bitmain. Temasek isn't a financier in the IPO, and has at no occasion had dialogues with, or an interest in the mining organization. Reported information associating us with the IPO is untrue." 


As already announced, the mining organization contacted prominent speculators before the first sale of its stock, who offered an estimated $15 billion in the start of Aug. The arrangement supposedly included support of prominent speculators such as Tencent a China-based technology company, venture firm D.S.T International, and Soft Bank, a Japanese bank which claims a 15% shares in Uber.

Soft bank has also declined its cooperation, disclosing to a web-based news agency that statements of it supporting Bitmain's Initial public offering are untrue. Kenichi Yuasa, officer in charge of correspondence at Soft Bank, expressed that 

"neither it’s Corporation nor its Reserve were in any capacity engaged with the arrangement."

At the end of Aug, mysterious sources revealed to the web-based news agency that D.S.T International was not part of Bitmain's $0.4 billion financing phase early in 2018. When requested to affirm the allegations, John Lindfors, an overseeing officer at DST International, replied in an e-mail

 “I can affirm that our organization has on no occasion put resources into Bitmain."

In spite of the confirmation by D.S.T International, imprecise information by Bitmain's pre-Initial public offering financial specialist reports mentions that the financial backing by D.S.T was 

“as of late finalized. "The record's wording translated from Chinese is unclear, making it conceivable to question the significance. Though, to the layman or an inexperienced speculator, the dialect would propose that Bitmain had obtained finances from D.S.T International.

 



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