Babytree Group plans $1bn Hong Kong initial public offering

By BizClik Admin

The China-based online parenting company, Babytree Group, is planning to raise up to $1bn in a Hong Kong initial public offering (IPO), Reuters reports.

Babytree, who is backed by global e-commerce firm Alibaba Group, is hoping to raise between $800mn to $1bn from the IPO.

The company, who is also supported by Shanghai-based conglomerate Fosun International, is aiming to gain approval from the Hong Kong stock exchange’s listing committee by the end of September, according to Reuters’ sources.

The potential IPO is the latest in a busy Hong Kong calendar which is set to include a $4bn deal by Meituan Dianping, a online food delivery-to-ticketing services platform, in addition to a $1bn listing of Haidilao.

See more:

Towards the end of June, Babytree announced it was China’s biggest maternity and child-focused online community boasting on average 139mn monthly active users in 2017.

Having been first established in 2007, Babytree has rolled out other services such as its Babytree parenting mobile app as well as its Meitun Mama.

As of the end of 2017, it is thought that Babytree has connected 338 advertising clients and 2,253 third-party e-commerce vendors.

Share

Featured Articles

Nirvik Singh, COO Grey Group on adding colour to campaigns

Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity

How Longi became the world’s leading solar tech manufacturer

On a mission to accelerate the adoption of sustainable energy solutions, US$30 billion Chinese tech firm Longi is not just selling solar – but using it

How Samsung’s US$5billion sustainability plan is working out

Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist

UOB: making strides in sustainability across Southeast Asia

Sustainability

Huawei smartwatch goes for gold with Ultimate Edition

Lifestyle

How IKEA India plans to double business, triple headcount

Corporate Finance