Ant-Backed Bike-Sharing Firm Files Confidentially for IPO
- Hello starts gauging investor demand for its listing
- CICC, Credit Suisse and Morgan Stanley are advising the firm
Previously known as HelloBike, Hello TransTech is one of the few firms to survive China’s bike-sharing bubble.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese bike-sharing giant Hello Inc. has confidentially filed for a U.S. initial public offering, according to people familiar with the matter, joining a wave of technology firms seeking to take advantage of surging valuations to sell shares.
Hello, backed by Ant Group Co., has started gauging investor demand recently after submitting its filing in the U.S., the people said, asking to not be identified discussing private information. The startup is working with China International Capital Corp., Credit Suisse Group AG and Morgan Stanley for the listing, according to the people.