The
owner
of
Thai
crypto
exchange
Bitkub
Online,
which
plans
to
sell
shares
to
the
public
next
year,
could
be
valued
as
high
as
$3
billion,
Bitkub
Capital
Group
CEO
Jirayut
Srupsrisopa
said.
Bitkub
Capital
signaled
its
intention
to
sell
shares
to
the
public
in
a
2023
letter
to
shareholders
that
didn’t
give
a
timeframe.
Jirayut
told
Bloomberg
earlier
this
month
that
an
IPO
was
planned
for
next
year
and
the
company
was
in
the
process
of
hiring
financial
advisers.
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p0x
Labs
Co-Founder
on
Developer
Adoption
of
AI
Thailand’s
biggest
crypto
exchange
provides
about
80%
of
the
Bangkok-based
parent’s
profit
and
is
9.2%
owned
by
Asphere
Innovations.
The
firm
was
valued
at
about
6
billion
baht
($165
million)
in
a
Series
A
fundraising
last
July,
Jirayut
said.
“A
price
to
earnings
ratio
of
10-30
would
put
our
valuation
between
1
billion
–
3
billion
US
dollars,”
Jirayut
said
in
a
message
on
LinkedIn
when
asked
about
an
IPO
valuation.
He
did
not
say
how
much
the
company
was
looking
to
raise.