![]() Xiaomi is one of the investors in Himalaya and is also listed in Hong Kong. Guannan Lin was previously the corporate finance director of smartphone manufacturer Xiaomi (1810.HK). In the latest prospectus, Lin Guannan replaced Li Dong. This may be related to the recent departure of former chief financial officer Dong, Dong was the vice president of Banc of America Securities Group, also before the US-listed Chinese education company elite education (OneSmart, ONE.US) served as Chief Financial Officer. This is why BofA Securities did not appear on the list of underwriters in the latest prospectus. On the broadest level, the latest prospectus shows that Himalaya's growth is slowing, which is not so surprising, as it controls more than two-thirds of the Chinese podcast market.īefore we discuss its financial status, let's talk about a non-financial issue in the latest filing that is different from the original New York prospectus. In this case, we will try to compare the latest documents with the New York prospectus filed earlier this year to see how the company has changed. Next, let's take a closer look at the new IPO prospectus submitted by Himalaya in Hong Kong this week. But they may be less attractive to technology companies, because many of the early investors of these companies are from outside China, and they are more willing to recoup their investments in foreign currencies rather than the more difficult-to-convertible RMB. The Chinese government also hopes to see many technology companies listed on the mainland's two Nasdaq-style trading boards, one in Shanghai and the other in Shenzhen. ![]() Other similar companies, including shared bike carriers Hello Travel (Hello Inc.), medical data company zero Krypton Technology (LinkDoc Technology Ltd.) and online dating platform Soulgate, after the two companies are at the last minute canceled their listing, Quite dramatic.įor many such companies, Hong Kong does seem to be a good case for discounting China, because its financial market is quite international and it is becoming more and more open to investors in the Mainland. The most important thing is that Himalaya is one of about five or six Chinese companies that applied to be listed in the United States this year and watched the plan to be suspended. At the same time, the United States discourages Chinese companies from listing in New York, saying that most of them use a complex and controversial corporate structure, and US investors lack a full understanding of the risks of this corporate structure. Himalaya announced its plan to go public in New York in March this year.Īccording to reports, Chinese officials hope that more such leading technology companies will be listed near their homes, forcing Himalaya to give up listing in New York. This is leading podcasting platform Himalayan present situation (Ximalaya Inc.), the company after informing the US securities regulators formally abandoned New York-listed plans to apply for listing in Hong Kong this week. It is likely that many of them will eventually be listed in Hong Kong or even mainland China, which is closer to home. and Chinese governments increased pressure, several Chinese companies went to the U.S.
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