Beijing: Shenzhen Shouhui Technology Group Ltd (SSTG), a Chinese online insurance platform, is considering an initial public offering (IPO) in Hong Kong as soon as next year, according to people familiar with the matter.
China International Capital Corp (CICC) and Huatai Securities Co are working with the company on the listing preparations, the people said, asking not to be identified as the information is private.
The company could raise US$200mil to US$300mil in its first-time share sale, depending on market conditions, said one of the people.
Deliberations are preliminary and details of the IPO such as size and timeline could change, the people said.
A representative for CICC declined to comment, while representatives for Huatai and SSTG didn’t respond to requests for comment.
Founded in 2015 in Shenzhen, SSTG offers full service in insurance from online consulting to purchasing and compensation, according to its website. It acquired an Internet hospital licence in 2022 which allows it to offer online medical services. — Bloomberg
