By Anthony O. Goriainoff
Argo Blockchain PLC said late Monday it has requested the U.K. Financial Conduct Authority to restore its listing of ordinary shares on the London Stock Exchange.The London-listed cryptocurrency mining company said the FCA suspended trading of its shares on Dec. 9 after certain draft materials, which implied the company was filing for Chapter 11 bankruptcy, were inadvertently published as a test page on its website.
The draft materials said Argo Blockchain was at risk of having insufficient cash to support its business operations within the next month. Furthermore, the materials added, the company was in advanced discussions with a third party to sell certain assets and engage in an equipment financing transaction it believed would strengthen its balance sheet and improve liquidity.
“The company is hopeful that it will be able to consummate the transaction outside of a voluntary Chapter 11 bankruptcy filing in the United States, although there is no assurance that the company can avoid such a filing,” Argo Blockchain said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com