HashKey Group, Hong Kong's largest licensed crypto exchange, is aiming to raise up to HK$1.67 billion ($214.66 million) in its initial public offering in the city, according to a prospectus lodged on Tuesday.

The company is offering 240.6 million shares at a price range of HK$5.95 to HK$6.95 each.

Final pricing is slated for Dec 16, with shares set to debut on the Hong Kong exchange the following day.

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HashKey Group, founded in 2018, offers a wide range of services including asset management, brokerage and tokenization, and runs the city's largest licensed crypto exchange.

The IPO lands as major crypto Bitcoin has shed more than $18,000 in November, its largest dollar loss since May 2021.