China Hints a State Backer for Rednote’s Owner Could Smooth IPO
- Xiaohongshu among most downloaded apps on iPhone in US
- China state-backing may help path to initial public offering
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Chinese regulators have informally indicated to Xiaohongshu Technology Co., owner of the Rednote app, that bringing in a state-owned investor could help make approvals smoother for any future listing, people familiar with the matter said.
It’s unclear if Xiaohongshu will decide to act on the suggestion, the people said, asking not to be identified because the deliberations are ongoing and private.