Social platform’s Soul and Fitness app reportedly continues to consider Hong Kong IPO

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Chinese social platform Soul and fitness app Keep are considering an IPO in Hong Kong, multiple media reported on Wednesday. Previously, the two companies had suspended their proposed listing in the United States

According to insiders, plans to list the two companies in Hong Kong are still under discussion and no final decision has been made. Cailian Press reported that Keep decided to go public in Hong Kong. Soul has yet to respond.

Previously, Ximalaya, a Chinese online audio sharing platform, filed for listing on the Hong Kong Stock Exchange in September this year. Huolala, Xiaohongshu, and Horizon Robotics are all considering similar actions.

Founded in 2014, Keep offers personalized exercise classes and advice to approximately 300 million registered users. Keep originally planned to join the United States, raising up to $ 500 million, but the plan failed in July.

SEE ALSO: Faced with the possible effects of the removal of the Didi app, Chinese companies Keep, Ximalaya and LinkDoc cancel plans for IPO in the United States

Soul, a social platform popular with Gen Z, helps users correspond with strangers who express similar interests. It originally planned to raise $ 198 million in the United States, but it also ran aground in June of this year. At that time, Soul said the company was given the option of another capital transaction, and after careful consideration, management decided to put its IPO pricing process on hold. Right now, the company is discussing the Hong Kong IPO with potential consultants.


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