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Sources: Chinese ecommerce firm Dmall plans for US IPO in second half of 2021

Briefing
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Miguel Cordon · 18 Feb 2021 · 1 min read

Sources: Chinese ecommerce firm Dmall plans for US IPO in second half of 2021

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“Beijing Dmall Ecommerce, an online retail service provider backed by Chinese supermarket Wumart Group, is planning an initial public offering in the US,” Bloomberg reported, citing sources familiar with the matter.

Details:

The Chinese firm is said to be working with advisers as it looks to list its shares as early as the second half of 2021. Wumart Group is also mulling its own separate listing in Hong Kong, the sources shared.
Dmall could raise about US$500 million in the potential IPO, the sources added. However, plans are still in their early stages, and the listing’s timing and size could still change.

Context:

Dmall helps plug traditional brick-and-mortar stores online through its cloud and operating systems.
It counts companies such as Tencent, IDG Capital, Lenovo Capital, and Incubator Group among its investors.

Editing by Collin Furtado and Jaclyn Tiu

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