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Geely Said to Weigh Hong Kong IPO for Ride-Hailing Firm Cao Cao

  • Cao Cao share sale could take place as early as next year
  • Ride-hailing IPO could raise several hundred million dollars

Chinese carmaker Zhejiang Geely Holding Group is considering an initial public offering in Hong Kong for its ride-hailing firm Cao Cao Mobility, according to people familiar with the matter.

A potential share sale in the Asian financial hub could take place as early as next year, the people said, asking not to be identified because the matter is private. An IPO could raise several hundred million dollars to further expand across the world’s second-largest economy, the people said. The company is also weighing a pre-IPO funding round, they said.