Bitcoin Group Cleared to List on Australian Securities Exchange

Australian bitcoin mining firm Bitcoin Group is scheduled to make its long-delayed debut on the Australian Securities Exchange (ASX) in early February.

Reports state the firm will list under the code 'BCG' with the aim of raising AU$20m ($13.9m) via the sale of 100 million shares at an issue price of 20 cents. The close date for the IPO is now January 25, while trading is expected to commence on 2nd February.

The news comes over a year after the Melbourne-based company first announced its intention to list in October 2014.

The process has since been held up following a reprimand from the Australian Securities and Investments Commission (ASIC) in February and two stop orders on its investor prospectus in July.

In one incident, the firm got into hot water with the regulator following a post on social media platform WeChat aimed at gauging interest from investors over the IPO. Various changes have also had to be made to the firm's prospectus.

Following final revisions to Bitcoin Group's filing in December, the way is now supposedly clear for the initial public offering (IPO) to go ahead.

Once, approved Bitcoin Group would join digitalX (formerly digitalBTC) as the second bitcoin firm to have secured a listing on the ASX, the largest exchange in the Australian market.

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