Tuhu Online Car Services Launching IPO in Hong Kong

Source: pymnts.com pymnts.com

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Tuhu, a Chinese online car services platform backed by Goldman Sachs Group Inc. and Tencent Holdings Ltd. among other investors, is relocating its initial public offering (IPO) from the U.S. to Hong Kong, according to a Bloomberg report Thursday (Jan. 6) that cited people with knowledge of the matter. The startup, which is formally known as Shanghai Lantu Information Technology Holding Ltd., is working with China International Capital Corp. on its IPO, which could raise $300 million to $400 million later this year, the sources told Bloomberg. Tuhu representatives said they aren’t aware of any listing plans. Tuhu is one...