Chinese Trading-Card Maker Kayou Is Said to Delay HK IPO Plans

Kayou, a Chinese maker of trading cards and stationery with animation themes, has pushed back its plan for an initial public offering in Hong Kong because it hasn’t received approval to list from China’s securities regulator, according to people familiar with the matter.

Casting a cloud over the deal is negative publicity surrounding trading cards from Chinese state media, which in July highlighted addiction among children, the people said, asking not to be identified as the information is private.

Kayou’s Hong Kong listing application lapsed at the end of July, the exchange’s website shows. Backed by investors including Hongshan ...