Xiaohongshu

[winston]

not vested

Xiaohongshu to file for confidential Hong Kong IPO in June: Bloomberg

China's social media platform Xiaohongshu reportedly plans to confidentially file for an initial public offering in Hong Kong by the end of this month, which is expected to become one of the city's largest listings in recent years, according to Bloomberg.

The Instagram-like app, also called Red Note, is working with advisors about the potential IPO, the report said, adding that discussions are ongoing and details, including timing, scale and valuation, are yet to be finalized.

Investors have called this 13-year-old firm to seize the current golden opportunity to go public.

The Shanghai-based company's valuation surged to US$31 billion (HK$242.95 billion) in a secondary-market transaction last September, while it was valued at about US$17 billion in its last funding round in 2024.

Last year, Xiaohongshu went viral in the US during the temporary ban of TikTok.

Source: The Standard

https://www.thestandard.com.hk/finance/article/334698/