Ledger shelves IPO plans, cites poor market condition reasons
The post Ledger shelves IPO plans, cites poor market condition reasons appeared on BitcoinEthereumNews.com. Ledger has officially paused its previously planned IPO and U.S. stock market listing today, citing unfavorable market conditions, according to people familiar with the IPO process. The hardware wallet producer has engaged with banking and financial institutions since the year began to advise on the possibility of launching an initial public offering that could value the company at about $4 billion. These financial institutions included Goldman Sachs, Jefferies, and Barclays. A confidential S-1 filing with the SEC is usually the first formal step towards a U.S. stock listing, and none has been filed by Ledger till now. Ledger is now weighing alternatives, which include raising capital through private funding. What is Ledger? Ledger designs hardware devices that let crypto holders securely store their tokens offline by securing their private keys which control access to the crypto