Alibaba-backed Huitongda 'weighs US$1b in HK IPO' Article


Source: chinadailyhk.com chinadailyhk.com

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Alibaba-backed Huitongda 'weighs US$1b in HK IPO' By Bloomberg Tuesday, May 18, 2021, 21:11 By 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 US$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...