Deals
Tencent-Backed Miaoshou Weighs $500 Million Hong Kong IPO
- Miaoshou aiming to list in Hong Kong as soon as this year
- Health-care platform working with CLSA and Goldman Sachs
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Beijing Yuanxin Technology Co., which runs pharmaceutical e-commerce platform Miaoshou Doctor, is weighing a Hong Kong initial public offering that could raise at least $500 million, according to people familiar with the matter.
The company, which counts Tencent Holdings Ltd. and Qiming Venture Partners among its backers, is working with CLSA Ltd. and Goldman Sachs Group Inc. on the potential share sale, the people said. An offering could happen as soon as this year, said the people, asking not to be identified as the information isn’t public.