Himalaya Turns To Hong Kong For IPO

On September 14, after withdrawing the IPO application on US SEC, China's online audio platform Himalaya submitted an IPO prospectus to the Hong Kong Stock Exchange. The underwriters are Goldman Sachs, Morgan Stanley and CICC.

Himalayan

 

Previously on May 1, Himalaya submitted an IPO application to the U.S. Securities and Exchange Commission (SEC) and announced that it planned to be listed on the New York Stock Exchange under the stock code 'Xima'.

However, on September 9, Himalaya announced on the New York Stock Exchange that the company had officially authorized the signatory's representative to sign the request to withdraw the US stock IPO plan. It is worth mentioning that according to Qixin.com, Himalaya has registered Himalaya Holding Company in Hong Kong, China on August 23.

Himalaya Technology Co., Ltd., established in August 2012, is an online audio platform.

According to Equalocean Data.com, Himalaya has completed nine rounds of financing up to now. The investors include strategic investors such as China LiteratureXiaomi Group, TAL, Puhua capital, JD Technology and Gopher Asseta, as well as other well-known investment institutions like Primavera Capital Group, Tencent Investment, Pan Atlantic Investments, Huatai Securities, Zhangjiang Hi-Tech, Huashan Capital and Zendai Group.

The latest financing occurred in August 2018. This E series of financing was co-invested by Tencent Investment and Primavera Capital Groupl, totalled CNY 4 billion. The  valuation of Himalayan was up to CNY 24 billion at that time.

According to the prospectus, from 2018 to 2020, Himalayan's revenue was CNY 1480.7 million, CNY 2697.5 million and CNY 4076.1 million, respectively. For the six months ended June 30, 2021, the revenue of the platform was CNY 2.516 billion, achieving a year-on-year increase of 55.5%. While the annual losses of the platform were CNY 3141.6 million, CNY 1928.8 million and CNY 2882.1 million respectively during the period mention above.

1 2
View single page >> |

Disclaimer: This article's content is intended to be used solely for informational and educational purposes, and not as investment advice. Always do your research and consider your personal ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.