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Aditya Hadi Pratama · · 1 min readChina Roundup: Meicai selects banks for HK listing, and more
Fresh-produce startup Meicai selects banks for Hong Kong IPO
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To help with its initial public offering, Meicai has reportedly tapped China International Capital, Citigroup, and Nomura Holdings.
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The startup could raise around US$300 million to US$500 million as part of its stock market debut.
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Backed by Tiger Global, Hillhouse, and GGV Capital, Meicai has connected farmers with over 2 million restaurants in China.
Xpeng Motors gets nod for 50% shares in Yidian Chuxing and Zhipeng IoV
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Xpeng now has the highest licensed equity in Yidian and Zhipeng after China’s Ministry of Industry and Information Technology greenlighted the electric-vehicle maker’s 50% stake in both companies.
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Yidian and Zhipeng will also be incorporated as unit of Xpeng to improve the latter’s financial data.
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Founded in 2014, Xpeng Motors has sold 10,138 vehicles as of October. Businesses of Yidian and Zhipeng include computer tech development, technical services, car rental, and road freight transport, among others.
Editing by Deepti Sri and Eileen C. Ang
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