China Himalaya IPO Heads to Hong Kong Instead of New York

Authorities Shift Direction Amid Regulations

[Asia Economy Reporter Yujin Cho] Himalaya, China's largest podcast platform that had been pursuing a U.S. stock market listing, has shifted its direction to Hong Kong due to regulatory authorities.

According to The Wall Street Journal (WSJ), Himalaya has initiated procedures to list on the Hong Kong Stock Exchange.

Previously, on the 9th, Himalaya withdrew its F-1 application submitted to the U.S. Securities and Exchange Commission (SEC) for listing on the New York Stock Exchange (NYSE) or Nasdaq.

After the recent overseas listing of Didi Chuxing, the Chinese authorities strengthened regulations on domestic companies pursuing overseas listings, leading Himalaya to abandon its U.S. listing plans.

In July, the Chinese government significantly tightened overseas stock market listing standards, requiring information and communication technology (IT) companies with at least 1 million users' data to obtain government approval before pursuing overseas listings.

Himalaya explained the reason for withdrawing the listing as "a decision consistent with public interest and investor protection."

With revenue models including subscriptions, advertising, and live streaming, Himalaya recorded sales of $390 million in the first half of this year, a 56% increase compared to the same period last year.

This content was produced with the assistance of AI translation services.