China Fintech PingPong Weighing $1 Billion Hong Kong IPO, Sources Say
- Payments startup aims to raise $300 million in pre-IPO round
- PingPong working with Morgan Stanley, Goldman Sachs, Citic
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Chinese fintech startup PingPong is considering an initial public offering in Hong Kong to raise as much as $1 billion, people with knowledge of the matter said.
The Hangzhou-based payment company is working with Morgan Stanley, Goldman Sachs Group Inc. and Citic Securities Co. on a listing that could happen as soon as this year, the people said, asking not to be identified as the information isn’t public. The firm had previously considered a listing in mainland China, one of the people said.