The Tencent-backed audio streaming platform developer cancelled its plans to float in New York after the Chinese authorities asked it to consider listing in Hong Kong.

Ximalaya, a China-based podcast portal operator backed by internet technology group Tencent, has withdrawn its plans for an initial public offering in the United States. The company revealed in May this year that it intended to list on the New York Stock Exchange having set a placeholder target of $100m. Later the same month, regulators…

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