(Yicai Global) April 11 -- Zhihu, the operator of China’s largest question-and-answer website, has launched a dual primary listing in Hong Kong, becoming the first Chinese internet firm to seek such a listing in the special administrative region.

Zhihu plans to offer 26 million shares from early-stage investors at HKD51.80 (USD6.61) each, the Beijing-based company said in a prospectus filed with the Hong Kong Stock Exchange today. The stock will start trading on the main board on April 22.

A dual primary listing refers to the listing of a company’s shares on two different bourses, giving access to additional capital and greater liquidity.

The Quora-like platform expects to continue to generate losses and net operating cash outflow in the near future, as it is expanding its content ecosystem, improving the quality and mix of content, promoting community culture and user interaction, and consolidating organic growth, it said.

The company’s net loss widened 151 percent to CNY1.3 billion (USD2 billion) last year, while revenue jumped 119 percent to nearly CNY3 billion, buoyed by an expanding user base and average revenue per active user, according to Zhihu’s earnings report released on March 14.

Average monthly active users soared 40 percent to 95.9 million last year, with average monthly paying members more than doubling to 5.1 million, the report showed.

Zhihu’s New York-listed stock [NYSE: ZH] closed 2.7 percent lower at USD2.56 on April 8, giving the company a market capitalization of USD1.4 billion. In pre-market trading today, it was down a further 6.6 percent as of 4.45 a.m. local time.

Credit Suisse, J.P. Morgan, China International Capital Corporation, and China Merchants Bank International are joint sponsors of the Hong Kong listing. Zhihu passed the listing hearing on April 8.

Editor: Futura Costaglione