Deals
Chinese Startup Meicai Weighs Hong Kong IPO After Crackdown
- The veggie supplier filed confidentially for U.S. IPO earlier
- Beijing tightens cybersecurity rules on overseas listings
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Meicai, a Chinese startup that connects restaurants with vegetable producers, is considering shifting its initial public offering to Hong Kong from the U.S. after Beijing’s recent crackdown on overseas listings, people with knowledge of the matter said.
The Beijing-based company is starting preparations for a Hong Kong listing, said the people, who asked not to be identified as the information is private. The startup could raise several hundred million dollars in an IPO, one of the people said. Meicai confidentially filed for a U.S. share sale earlier this year, Bloomberg News reported in May.