China’s answer to Instagram is betting on male users to fuel its next stage of growth as it prepares for the biggest initial public offering of a Chinese internet company in five years.
Xiaohongshu, known internationally as RedNote, is working with lawyers, investment banks and executive search companies as it accelerates plans for a Hong Kong listing, according to multiple people familiar with the preparations.
If it wins approval from Beijing’s securities regulator, it would be the first major IPO of a Chinese internet company since ride-hailing app DiDi went public in 2021.
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