(Yicai Global) May. 28 -- The developer of the Chinese social media singing platform ChangBa has finished a more than one year of tutoring to go public and is expected to land on the Growth Enterprises Market board.

State-owned investment bank China International Capital informed that ChangBa Technology has successfully passed the pre-listing tutoring program, without disclosing the date for the initial public offering nor the expected capital to be raised. 

The platform's biggest rival in China is Tencent Holding's WeSing, which had 100 million monthly users last year -- about three times that of ChangBa.

The Beijing-based application, live since 2012, completed its Series D funding round in 2015 with a valuation of CNY 4.3 billion (USD 673 million). The karaoke platform entered CICC's pre-listing tutoring in November 2016. 

Growth Enterprise Market is a board of the Hong Kong Stock Exchange for growth companies that do not fulfill the requirements for the main board.

Editor: Emmi Laine