Insta360, a Chinese rival of GoPro Inc., is said to be exploring the possibility of going public in Hong Kong due to delays in its plans for a listing in mainland China.
The Shenzhen-based company, known for its 360-degree cameras and virtual reality devices, is aiming for a valuation of at least 15 billion yuan, which is approximately $2.1 billion, during the share sale.
It is also considering a pre-IPO placement to raise additional funds before the potential listing. This strategic shift is in response to the current regulatory environment affecting IPOs in mainland China.