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Xinhua Silk Road
Company

Ant Group-backed Chinese bike-sharing startup files for U.S. IPO

April 25, 2021


Abstract : Chinese bike-sharing firm Hello Inc on Saturday filed for an initial public offering on the U.S. stock market, the Xinhua-run Shanghai Securities News reported on Saturday。

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Shared bikes are covered by snow in Shenyang, northeast China's Liaoning Province, Jan. 15, 2021. (Xinhua/Yao Jianfeng)

BEIJING, April 25 (Xinhua) -- Chinese bike-sharing firm Hello Inc on Saturday filed for an initial public offering on the U.S. stock market, the Xinhua-run Shanghai Securities News reported on Saturday. 

The company, backed by Ant Group, plans to list on the NASDAQ. Credit Suisse Group, Morgan Stanley and China International Capital Corporation (CICC) are the joint bookrunners on the deal.

According to the company, the raised funds will be used for technology R&D and business development.

Data showed that the company pocketed 6.04 billion yuan in revenue last year, up 25.3 percent year on year.(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)

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Keyword: IPO Hello Inc.

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