News Snapshot:
Ximalaya, a Chinese audio streaming platform, has submitted an application for listing to the HKEx on Monday after dropping plans to list publicly in the United States. The firm’s co-sponsors were Goldman Sachs, Morgan Stanley and CICC. According to the prospectus, this year, Ximalaya completed its E Round of financing worth nearly $350 million. In the six months ended June 30, 2021, Ximalaya’s revenue reached 2.51 billion yuan ($389 million), a year-on-year increase of 55.5%. The average total monthly active users reached 262 million, including 151 million monthly active users of IoT and other third-party platforms. The company posted losses...
