Chinese Auto Services Platform Tuhu Gears Up for Hong Kong IPO Pandaily


Source: pandaily.com pandaily.com

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Automobile service platform Tuhu submitted its prospectus on Monday at the Hong Kong Stock Exchange (HKEx) , with Goldman Sachs, CICC, Bank of America and UBS as co-sponsors. Market sources indicate that Tuhu plans to raise $700 million in its forthcoming public listing. 2021 witnessed a flurry of rumors surrounding a potential Tuhu IPO – all were officially denied by the firm. Founded in Shanghai in 2011, Tuhu is a platform focusing on after-car services and car maintenance, providing online reservations plus offline installation of car maintenance. According to the prospectus, Tuhu covers most passenger car models sold in China,...