Social Platform Soul and Fitness App Keep Reportedly Considering Hong Kong IPO
Chinese social platform Soul and fitness app Keep are considering an IPO in Hong Kong, several media outlets reported on Wednesday. Previously, both companies suspended their plans to list in the U.S.
According to insiders, plans for the two companies to list in Hong Kong are still under discussion, and no final decisions have been made. Cailian Press reported that Keep has decided to go public in Hong Kong. Soul has not responded yet.
Previously, Ximalaya, a Chinese online audio sharing platform, submitted an application for listing on the Hong Kong Stock Exchange in September this year. Huolala, Xiaohongshu and Horizon Robotics are all considering similar moves.
Founded in 2014, Keep provides customized exercise courses and guidance for about 300 million registered users. Keep originally planned to list in the U.S., raising up to $500 million, but the plan ran aground in July.
Soul, a social platform popular with Generation Z, helps users match with strangers that express similar interests. It originally planned to raise $198 million in the U.S., but it also ran aground in June this year. At that time, Soul stated that the company received the possibility of other capital operation, and after careful consideration, the management decided to suspend its IPO pricing process. At present, the company is discussing the IPO in Hong Kong with potential consultants.
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