Former head of UBS’s investment division in Asia, Joseph Chee, completed the reorganization of Helius (HSDT) in September after acquiring it through his fund Summer Capital with participation from the crypto investment firm Pantera and other investors. Following the deal, the company was renamed Solana Company and shifted its focus to the digital asset sector.
Chee announced that he has already raised $500M to establish a Solana reserve. His goal is to acquire at least 5% of the total token supply. He added that once market and regulatory conditions are met, the company plans to pursue a secondary listing in Hong Kong.
“This could happen within the next six months,” Chee said.
Under Hong Kong Stock Exchange rules, a company seeking a secondary listing must have a market capitalization of at least 10B Hong Kong dollars ($1.280B), maintain two years of stable financial performance, and meet public interest criteria. The company is currently valued at $710M, according to Stock Analysis.
Solana Company’s Strategy
The company operates under the Digital Asset Treasury (DAT) model — a digital treasury structure that accumulates crypto assets and continuously expands its holdings. This model gained recognition following the success of MicroStrategy (MSTR).
Chee emphasized that the success of a DAT depends on the choice of cryptocurrency and the strength of its team. In his view, Solana remains undervalued by the market. It operates on a model similar to Ethereum but delivers much higher performance — exceeding 1500 transactions per second compared to Ethereum’s double-digit figures on its main network.
According to Coingecko, Solana ranks sixth among the world’s largest cryptocurrencies with a market capitalization of about $124B, surpassing the USDC stablecoin by Circle. To achieve its 5% ownership goal, Solana Company would need more than $6B in total investments.
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