Waterdrop Inc. is preparing for an initial public offering as soon as this year, seeking a valuation of about $4 billion, according to people familiar with the matter.
The insurance tech startup, backed by Tencent Holdings Ltd., is working with Bank of America Corp. and Goldman Sachs Group Inc. on the potential share sale, the people said. The U.S. is among potential listing venues that the Beijing-based firm is exploring and no final decision has been made, the people said.
