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Fintech Firm Backed by Chinese Movie Stars Is Planning U.S. IPO

  • QuantGroup asks banks to pitch for role on U.S. share sale
  • Investors in Beijing-based firm include Fosun, Guosen
The New York Stock Exchange (NYSE) stands in New York, U.S., on Monday, June 27, 2016. U.S. stocks resumed a selloff sparked by Britain's shock vote to leave the European Union, with the Dow Jones Industrial Average falling more than 300 points after equities on Friday tumbled the most in 10 months.
Photographer: Michael Nagle/Bloomberg
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QuantGroup, a financial technology company backed by Chinese movie stars, is planning a U.S. initial public offering that could raise about $200 million, according to people with knowledge of the matter.

The Beijing-based firm has asked banks to pitch for a role on the potential offering, the people said, asking not to be identified because the information is private. The deal is at an early stage, and details are yet to be finalized, the people said.