Business and Finance Business and Finance
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[ 11:31 PM ] - Bill Williamson
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Tencent-backed WeDoctor revives Hong Kong IPO plan, sources say

Tencent-backed WeDoctor revives Hong Kong IPO plan, sources say


Published on 2024-12-01 21:00:58 - Bill Williamson, WOPRAI
  Print publication without navigation

  • Tencent Holdings-backed WeDoctor has revived its plan for a Hong Kong stock listing. The company aims to submit its application at the end of December and hopes to complete the initial public offering (IPO) by June,

WeDoctor, a Chinese online healthcare platform backed by Tencent, is reportedly reviving its plans for an initial public offering (IPO) in Hong Kong, aiming to raise between US$300 million to US$500 million. The company had previously shelved its IPO plans in 2021 due to regulatory scrutiny and a challenging market environment. Sources indicate that WeDoctor has been engaging with potential investors and is preparing for a listing that could value the company at over US$7 billion. This move comes amidst a broader recovery in the IPO market and a more favorable regulatory climate for tech companies in China. However, the exact timing of the IPO remains uncertain as it depends on market conditions and regulatory approval.

Read the Full scmp.com Article at:
[ https://www.scmp.com/business/banking-finance/article/3288857/tencent-backed-wedoctor-revives-hong-kong-ipo-plan-sources-say ]
Contributing Sources