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Alibaba-Backed Startup Huitongda Seeks Up To $1 Billion in Hong Kong IPO

By
Juro Osawa
· · Source: South China Morning Post

Huitongda, an Alibaba-backed Chinese e-commece platform that focuses mainly on rural areas, has gained approval from Hong Kong’s stock exchange to go public there, the South China Morning Post reported. The startup aims to raise between $500 million to $1 billion in the listing. Huitongda’s market debut will be one of this year’s first major initial public offerings in Hong Kong. It will be a...

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