- Briefing Your roundup of Asian tech and startup news that matter
Roehl Niño Bautista · · 1 min readReport: Chinese convenience store chain startup files for US listing
“Chinese convenience store chain startup Bianlifeng has filed confidentially for a US initial public offering that could raise about US$500 million,” reported Bloomberg, citing people familiar with the matter.
Details:
- The Beijing-based company’s sale could happen within the year, but the offer size and timeline are not yet finalized.
- Former Goldman Sachs investment banker Deborah Wei has been named by the startup as its chief financial officer.
Dive deeper:
- China is reportedly eyeing a rule change that would let it clamp down on Chinese tech companies’ overseas listing plans.
- There has been a recent spate of government crackdowns on Chinese tech companies, with probes conducted or fines imposed on Didi, Alibaba, Tencent, and Meituan.
Editing by Collin Furtado and September Grace Mahino
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
