SHANGHAI -- Chinese authorities reportedly have pressured podcast and audio app Ximalaya to scrap plans for an initial public offering in the U.S. and list in Hong Kong instead, as they seek to tighten their grip on tech companies.
Ximalaya had applied to list on the New York Stock Exchange in late April, according to Reuters, which first reported Beijing's pressure campaign. Regulators including the Cyberspace Administration of China pressed the company to withdraw its plans and switch the IPO venue to Hong Kong.
