On September 18, according to Bloomberg, Animoca Brands co-founder Yat Siu said that Hong Kong is a “strong contender” for the company's potential listing.

"Part of the reason is that the company is headquartered in Hong Kong, and digital asset-related activities are expanding in Hong Kong as officials seek to develop a crypto hub," Siu said in an interview with Bloomberg Television at a conference in Singapore.

However, any initial public offering plan may "take a couple more years to really materialize," he said on Wednesday, adding that the current focus is on growing the business.

Siu told the South China Morning Post last month that privately held Animoca shares were valued between $1.5 billion and $3 billion in the secondary market. This is a discrepancy compared to its $5.9 billion valuation from a 2022 funding round.

Siu said low trading volume in the secondary market distorts signals and added that Animoca Brands is not currently seeking to raise new capital.