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Trucking Startup G7 Weighs $500 Million Hong Kong IPO

  • G7 working with CICC, Citi and Morgan Stanley on the listing
  • Tencent-backed Chinese firm could debut as soon as this year
A unit for monitoring freight truck drivers and trailers at the G7 headquarters in Beijing.

A unit for monitoring freight truck drivers and trailers at the G7 headquarters in Beijing.

Photographer: Gilles Sabrie/Bloomberg
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G7, a fleet management company backed by Tencent Holdings Ltd., is weighing an initial public offering in Hong Kong that could raise about $500 million as soon as this year, people with knowledge of the matter said. 

The Chinese firm is working with China International Capital Corp., Citigroup Inc. and Morgan Stanley on the proposed share sale, said the people, who asked not to be identified as the information is private.