Alibaba-Backed Huitongda Weighs $1 Billion Hong Kong IPO – BNN Bloomberg

(Bloomberg) — Huitongda Network Co., a Chinese e-commerce platform serving the country's rural areas, is weighing a Hong Kong initial public offering that could raise as much as $1 billion, according to people familiar with the matter. The company, which counts Alibaba Group Holding Ltd. among its backers, is working with advisers on the prospective listing and is considering going public as soon as the second half of this year, the people said, asking not to be identified as the information is private. Deliberations are ongoing and details such as fundraising amount and timeline could still change, the people said….