In a recent announcement, Jirayut Srupsrisopa, the CEO of Bitkub Capital Group, revealed plans to list its subsidiary, Bitkub Online, on the stock market next year, aiming for a market valuation of up to $3 billion. This move is intended to leverage the company’s leading position in the Thai market to expand its influence. Currently, Bitkub Online contributes around 80% of the parent company’s profits.
The company is currently busy with preparations for the listing, including recruiting financial advisors. After a successful Series A funding round, the exchange was valued at $165 million, and it is expected that its market value will significantly increase through a price-to-earnings ratio of 10 to 30 times. This plan highlights the strategic importance and rapid growth potential of Bitkub Online in the expanding cryptocurrency market.