Chinese voice-chat app Yalla Group Ltd on Tuesday filed for a U.S. listing, looking to enter a rebounding market for initial public offerings against the backdrop of rising tensions between Beijing and Washington.
The move comes as U.S.-listed Chinese companies are facing tightened scrutiny and strict audit requirements from U.S. regulators.
Yalla, founded in 2016, is among few Chinese social-media companies that are tapping the booming wireless-services market in the Middle East and North Africa.
Its IPO comes follows that of Chinese electric vehicle (EV) maker Xpeng Inc <XPEV.N> whose shares popped in their U.S. market debut after raising $1.5 billion.
Yalla intends to list its American Depository Shares on New York Stock Exchange under the symbol "YALA", it said in a filing https://www.sec.gov/Archives/edgar/data/1794350/000119312520240880/d850602df1.htm#rom850602_4.
Morgan Stanley and Haitong International are among the underwriters of the IPO.
(Reporting by C Nivedita in Bengaluru; Editing by Arun Koyyur)
