Honor indicated it was making initial preparations for a public listing of shares in a move expected to aid the next stage of its development, Chinese publication Securities Times reported.
The state-owned newspaper highlighted the former Huawei subsidiary would make various board and governance changes to meet listing requirements as it sought to capitalise on progress made in the last three years.
In Honor’s statement to the publication, it claimed rapid strategic and business development over that time, with its market position greatly improved.
With the IPO, it expects to “attract diverse capital”.
Prior to its split from Huawei in 2020 Honor had focused on low- to mid-tier smartphones, with the Huawei badge donning the premium devices from the stable.
Canalys Q3 shipment figures for China place Honor at the top of the market on 11.8 million units and an 18 per cent market share.
In the first quarter reported since its split from Huawei (Q1 2021), the analyst house had Honor as the sixth largest vendor, with a share of around 5.4 per cent.