The Rakuten-backed social media and e-commerce company, valued at more than $12bn, will select underwriters next month and could go public as soon as April.
Digital media company Bytedance has agreed $3bn in a round set to be led by SoftBank that will reportedly value it at $75bn.
SoftBank is reportedly among the interested investors as digital media company ByteDance targets $3bn at a $75bn valuation.
Since the beginning of 2017, Global Corporate Venturing (GCV) Analytics has tracked and seen a number of companies backed by China-based internet company Tencent go public in Hong Kong and the US.
Entertainment producers like 21st Century Fox and Warner Bros have reportedly supplied $200m of an $800m round that will support high-budget, short-form video, as content continues to draw in big bucks.
The Tencent-backed online services provider floated above its range, showing the promise in Southeast Asia for Chinese internet companies.
The Comcast-backed company, which links a visual social media platform with goods and services, is valued at $4bn and is potentially pointing a new way forward for mobile commerce.