China’s mobile live streaming platform Inke plans to go public in Hong Kong with an offer price per share between HK$3.85 to HK$5. According to the company’s filing, it expects to raise HK$1.21 billion. Shares will start trading on July 12.

According to the filing, the company is the second largest mobile live streaming platform in China in terms of revenue in 2017, with a revenue of RMB 3.94 billion ($595 million) making up 15.3% of the market.

Inke’s monthly active users peaked in the last quarter of 2016 and experienced a 26% decrease at the beginning of 2017. The number of users fell from 30 million to 22 million. Though the number’s increasing since the second quarter of 2017, it never returned to the peak. In the first quarter of 2018, monthly active users were 25.3 million.

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Jiefei Liu

Jiefei Liu is a Beijing based tech reporter. She focuses on the union of tech and content creation and loves agriculture. You can write to her at Jiefei@technode.com