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Market Chatter: RedNote Operator Xiaohongshu Technology Hires Banks for Hong Kong Listing

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Chinese social platform operator Xiaohongshu Technology has hired Goldman Sachs and CICC for a potential listing in Hong Kong, Reuters reported Tuesday, citing people with knowledge of the matter.

The firm operates RedNote, commonly referred to as China's Instagram, and the listing could be among the most high-profile IPOs in the city, Bloomberg previously reported.

It was not yet clear how much funds Xiaohongshu Technology was targeting, but the firm was valued at up to $50 billion towards the end of last year, Reuters reported.

The firm could list as early as the second half of this year, according to the report.

Xiaohongshu Technology did not immediately reply to a comment request from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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