Tencent-backed Beike mulls US$1b IPO next year

FILE PHOTO: A Tencent sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20,2019. REUTERS/Aly Song/File Photo

HONG KONG: Beike Zhaofang, a Chinese online property brokerage platform backed by Tencent Holdings Ltd., is considering an initial public offering that could raise at least $1 billion, people familiar with the matter said.

The company is working with an adviser for the potential share sale, said the people, who asked not to be identified as the discussions are private. The listing could take place as soon as in 2020, while the company hasn’t decided on the venue, the people said.