In brief: Hellobike plans to raise $500m

• Bike-sharing startup Hellobike is looking to raise at least US$500 million as it fights for customers in the brutal Chinese market, according to people familiar with the matter.
• The Shanghai-based company could increase the amount it’s targeting to raise to US$1 billion.
• Hellobike tapped the capital market at least twice in 2018, completing a US$596 million round as recently as December, according to Chinese news publication Jiemian.

Source: Bloomberg