Huawei spinoff Honor plans IPO, denies backdoor listing

Asian Tech Press (Nov 23) -- Chinese smartphone maker Honor is set to debut in the capital markets through an initial public offering, a board filing disclosed.

Through the document, which Honor published on Wednesday, it explicitly denied rumors of a backdoor listing.

"In order to achieve the next stage of the company's strategic development, the company will continue to optimize its shareholding structure, attract diversified capital, and promote the company's entry into the capital market through its initial public offering," Honor said.

Due to U.S. sanctions, Honor divested from Chinese telecom giant Huawei in 2020.

In fact, since 2022, there has been a lot of news about Honor's backdoor listing, along with a number of listed companies clarifying them.

With this disclosure about Honor's listing plan, a series of speculations against Honor's going public through a backdoor listing may also come to an end.

In addition, the company also confirmed that Wu Hui, former chairman of state-owned enterprise Shenzhen Water (Group) Co., Ltd..

One of Wu's main tasks at Honor will be to promote the company's listing process, according to a report by Chinese media outlet Jiemian News.

With the confirmation of the listing approach and the joining of a new chairman, Honor is gradually moving forward with its plans to go public.

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