Skip to content

Tencent-Backed Tuhu to Move Planned U.S. IPO to Hong Kong

  • Tuhu working with CICC, Goldman Sachs on proposed listing
  • Car maintenance startup seeking $300 million to $400 million
Hong Kong Exchanges & Clearing Ltd. Rides Trading, IPO Surge to Record Profit
Photographer: Roy Liu/Bloomberg
Updated on

A Chinese online car-services platform backed by investors including Goldman Sachs Group Inc. and Tencent Holdings Ltd. is shifting its proposed initial public offering to Hong Kong from the U.S., people with knowledge of the matter said. 

The startup, which is formally known as Shanghai Lantu Information Technology Holding Ltd., is working with China International Capital Corp. and Goldman Sachs on the offering that could raise $300 million to $400 million this year, the people said, asking not to be identified as the information is private.