Chinese video site set for $1.4b backdoor listing

Mango TV makes a quick move to the public market through a backdoor listing in Shenzhen, stealing a march on its bigger rival iQiyi, which is slated to go public in the US next year.
September 29, 2017

Online video platform Mango TV is set to become the latest fast-growing Chinese technology startup to go public after agreeing a Rmb9.5 billion $1.4 billion backdoor listing on the ChiNext board of the Shenzhen Stock Exchange.

Hunan-headquartered Mango TV, which gained unicorn status after completing a series-B round of funding last year that valued the company at Rmb13.5 billion $2 billion, will be injected into ChiNext-listed Happigo Home Shopping through a share swap deal, the company said on Thursday.

Happigo Home Shopping said it will raise $300 million from five undisclosed institutional investors to fund the reverse takeover of Mango...

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