Grindr Eyes Overseas IPO
Tang Shihua
DATE:  Aug 30 2018
/ SOURCE:  Yicai
Grindr Eyes Overseas IPO Grindr Eyes Overseas IPO

(Yicai Global) Aug. 30 -- The company behind Grindr, the world's most popular mobile app geared toward the gay community, has plans to list the unit on an overseas bourse.

Kunlun Tech, which acquired a controlling stake in the platform for USD93 million in January, agreed to take the firm public at a shareholders meeting, the Beijing-based company said in a statement. It did not provide details of the amount the firm aims to raise, where it would seek to list or who will be the lead underwriters.

An initial public offering will cement Grindr's competitive position while promoting sustainable development. Since the subsidiary makes up a relatively small proportion of the parent company's total business, listing it will not have a significant impact on Kunlun Tech's operating performance.

Kunlun will set a target price according to the overseas capital market, the general valuation of the sector, as well as market subscriptions and other factors, it said.

The company has three main businesses: mobile game platform GameArk, entertainment unit Xianlai Game, and social networking through Grindr. It also operates over 10 platforms overseas.

Editor: William Clegg

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Keywords:   IPO,LGBT Community,Grindr Inc.,Kunlun