GAC’s Ride Hailing Firm Ruqi Is Said to Pick Banks for HK IPO
- Ruqi working with ABCI, CICC and Huatai on IPO for next year
- Firm to join ride-hailing IPO candidates including Cao Cao
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Ruqi Mobility, Chinese state-backed automaker GAC Group’s ride-hailing firm, has picked banks including ABC International Holdings Ltd. for its planned Hong Kong initial public offering, according to people familiar with the matter.
The company is also working with China International Capital Corp. and Huatai International on the first-time share sale, the people said. The IPO could happen as soon as next year, the people said, asking not to be identified as the information is private. The offering may raise a couple hundred million dollars, though preparations are at an early stage, they said.