Goldman-Backed Chinese Online Pet Store Boqii Plans IPO
Boqii is tapping into rising affluence as more households adopt pets in a Chinese market that Frost & Sullivan expects will more than double to 472 billion yuan ($70 billion) by 2023.
Photographer: Brent Lewin/Bloomberg
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Boqii Co., a Chinese online pet shop backed by Goldman Sachs Group Inc., is planning an initial public offering that could raise at least $100 million, according to people with knowledge of the matter.
The sale could happen this year, the people said, asking not to be identified because the information is private. The Shanghai-based e-commerce startup is considering selling shares in Hong Kong or the U.S., one of the people said.