Friday, May 28, 2021
The stock market day
Insider: Beijing is pushing Ximalaya to IPO in China instead of USA
China, according to insiders, is pushing the country’s largest audio platform, their plans for one IPO in the USA in favor of Hong Kong to drop. Reuters reports this without referring to insiders. Originally wanted Ximalaya – the largest podcast provider in the People’s Republic – this month go public in New York.
Currently the lead from Tencent, Xiaomi and Baidu as well as Sony Music funded company talks with China’s Internet regulator CAC. A final decision should be made within two weeks, the insiders said. CAC as well as Ximalaya could not be reached for a comment at first.