China audio platform Ximalaya hits play again on Hong Kong IPO plans

SYDNEY: China’s largest online audio platform Ximalaya Inc said it has refreshed plans to carry out a Hong Kong initial public offering (IPO).

It had sought a Hong Kong listing in mid-2022 but dropped those plans, which aimed to raise more than $500 million, due to volatile financial markets, according to sources.

A year before that, it scrapped plans for a market debut in New York, sources have said, after regulatory pressure that came amid moves by Chinese authorities to tighten their ideological grip on private media and internet businesses.