Zhihu Seeks Hong Kong IPO: Report

  • Chinese question-and-answer website Zhihu Inc ZH, which went public in the U.S. in March 2021, is considering another initial public offering in Hong Kong, Bloomberg reports.
  • Zhihu looks to submit documents for its share offerings in Hong Kong in January.
  • Some of Zhihu’s significant shareholders, including a Tencent Holdings Ltd TCEHY associate, have pulled out, leaving CEO Zhou Yuan with a 99.3% holding, while CTO Li Dahai owns the remaining stake.
  • Zhihu shares have tumbled 44% following its U.S. IPO. 
  • Earlier this week, Beijing’s internet regulator also summoned the website operator to publish and transfer banned information. 
  • Zhihu vowed to suspend related functions while it rectifies the problem.
  • Price Action: ZH shares closed lower by 2.94% at $5.28 on Thursday.
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