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Grindr Planning IPO on International Stock Exchanges
The world’s largest gay social hook-up platform with 3 million daily active users, Grindr is planning an initial public offering on international stock exchanges.
Bloomberg reports: “Grindr — a wholly owned unit of the Chinese internet gaming firm — will list overseas at an unspecified time, the company said. The timing of the share sale will be determined by regulatory approval as well as capital market conditions, it said in a stock exchange filing.”
The South China Morning Post adds: “The timing of the listing is dependent on conditions in the international capital market and progress of approval from domestic and overseas regulators, Kunlun said in a public filing on the Shenzhen stock exchange on Wednesday. While the executive board has approved the listing plan, it still needs approval by the shareholder board. Kunlun bought a 61.5 per cent stake in Grindr in 2016 at a valuation of US$155 million, and acquired the remaining shares for full ownership in January.”
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