The CEO of Bitkub Capital Group, Jirayut Srupsrisopa, announced plans for an Initial Public Offering (IPO) next year. This move would allow the public to buy shares in the Thai crypto exchange Bitkub Online. According to Jirayut, the company could be valued as high as $3 billion.

Bitkub Capital's plan to go public was mentioned in a letter to shareholders for 2023. Although no specific date was given, Jirayut mentioned to Bloomberg that the IPO was expected next year. The company is currently in the process of hiring financial advisors in preparation for this move.

Bitkub Online, the largest crypto exchange in Thailand, contributes about 80% of profits for the parent company based in Bangkok. Asphere Innovations owns 9.2% of the exchange. Last July, the company was valued at around $165 million during a Series A fundraising.

In response to questions regarding the IPO valuation, Jirayut mentioned on LinkedIn that a price-to-earnings ratio of 10-30 could value the company between $1 billion to $3 billion. However, he did not disclose the amount the company is looking to raise through the IPO.