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Bitcoin Group Again Postpones Debut on ASX

Bitcoin Group, an Australia-based bitcoin miner, received the approval from the Australian Securities and Investment Commission (ASIC) on 4 September for an AU$20 million public offer, and was expected to go ahead with a proposed listing on the Australian Securities Exchange (ASX) on 11 November 2015. But the company has now postponed the date to 11 December.

The company made the first announcement about pursuing an initial public offering (IPO) on the ASX in October last year. However, it got delayed due to a reprimand by the ASIC in February and two stop orders on its investor prospectus in July.

As reported by Leaprate, the company lodged a Supplementary Prospectus with the ASIC last week with the intention of extending the offer period for its IPO on ASX.

“According to the latest information, the new Closing Date of the Offer is set for November 20, 2015…the indicative date for the dispatch of holding statements “6 November” is replaced with the date “6 December”, and the indicative date for quotation of shares on ASX of “11 November” is replaced with the date “11 December””, Leaprate said.

Finance Magnates reported that the company recently issued a number of corrective statements regarding its disclosures, “following engagement with ASIC.” The company advised prospective investors to ignore the revenue projections previously stated in the press and profitability information stated on a WeChat posting, and retracted any suggestion that Prime Minister Malcolm Turnbull personally invested in the Bitcoin Group IPO.

“Investors should make their decision to invest in the IPO on the information appearing in the Replacement Prospectus and have regard to this Notice”, Bitcoin Group said.

Bitcoin Group recently organised pre-IPO roadshows in Sydney and Melbourne, with over 100 potential investors turning up to the event.  

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