South Korea’s ICONLOOP Denies IPO Plan Reports

The firm behind the blockchain project ICON has denied claims that it is considering to conduct an initial public offering (IPO).

Local media outlet Pulse News reported on February 26 that South Korea-based ICONLOOP is preparing to list on the Korea Exchange next year and that it has chosen brokerage firm Mirae Asset Daewoo Co. to lead the initiative, citing “an investment banking industry source.” The claim was also reported by other news sources.

However, the CEO of ICONLOOP, Jonghyup Kim said that the news is “not true at all” and that the company at present does not consider holding an IPO. He stated that there have been similar rumors before and such reports are “misinformation.”

Managed by the ICON Foundation, ICON is an effort intending to link different blockchains via its loopchain protocol. The company has conducted an initial coin offering (ICO) and provides its own token (ICX), which is presently ranked as the 39th largest crypto by market capitalization.

ICONLOOP revealed last week that it has attained “advanced technology partner status” on the Amazon Web Services (AWS) Partner Network.