Bitmain IPO: The next company denies rumors about investment

The IPO of the Chinese mining company Bitmain is still in the house. Already last month there had been controversy over several alleged investors. Now, the next potential investor denies having anything to do with the pre-IPO. The repeated rejection throws no good light on the entire project.

Back in June, Bitmain CEO Jihan Wu announced plans  to go public . Sequoia Capital China and IDG Capital were the first investors in the soon-to-be-launched Pre-IPO. Both are among the venture capital companies originally invested in Bitmain. The investment by Sequoia Capital was $ 400 million.

There was confusion about another rumored investment. In retrospect, Chinese media reports, which suggested a billion-dollar investment by the Chinese technology group Tencent and the Japanese SoftBank, turned out to be wrong. Both alleged major investors, however, distanced themselves in retrospect from the reports.

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The next investment company to publicly deny its involvement in Bitmain’s Pre-IPO is Temasek. According to last month’s Chinese media reports, the major investor owned by the Singapore government made a major contribution to the pre-IPO round. The total amount taken in this funding has grown to 560 million US dollars.

Now Temasek is rowing back. In a statement, they claim they have neither invested in Bitmain nor ever thought about joining the proposed IPO. All media reports claim the opposite lead us astray.

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