LplMichelle
2021-11-15
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Chinese Startup Meicai Picks Banks for Hong Kong IPO
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Meicai could raise $300 million to $500 million, they said, asking not to be identified as the information is private.</p>\n<p>The produce supplier started preparations for a Hong Kong IPO, Bloomberg News reported in July, joining Chinese firms such as Lalamove and Xiaohongshu in shifting such plans away from the U.S. .</p>\n<p>Deliberations are ongoing and details such as timing and fundraising size could change, said the people. Representatives for Citigroup, Meicai and Nomura declined to comment, while a representative for CICC didn’t immediately respond to requests for comment.</p>\n<p>Meicai -- whose name means “beautiful vegetable” in Chinese -- was founded in 2014 by rocket scientist Liu Chuanjun. Using a smartphone app, restaurant owners in China can order fresh produce directly from farms, cutting out middlemen. Meicai said it serviced more than 2 million restaurants in over 300 Chinese cities as of the end of 2020. The company counts Tiger Global Management, Hillhouse Capital and GGV Capital among its backers.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Startup Meicai Picks Banks for Hong Kong IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Startup Meicai Picks Banks for Hong Kong IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 17:44 GMT+8 <a href=https://finance.yahoo.com/news/chinese-startup-meicai-picks-banks-090901994.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Meicai, a Chinese startup that connects restaurants with vegetable producers, has picked banks for its proposed Hong Kong initial public offering, according to people with knowledge of the matter.\nThe...</p>\n\n<a href=\"https://finance.yahoo.com/news/chinese-startup-meicai-picks-banks-090901994.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/chinese-startup-meicai-picks-banks-090901994.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184538038","content_text":"Meicai, a Chinese startup that connects restaurants with vegetable producers, has picked banks for its proposed Hong Kong initial public offering, according to people with knowledge of the matter.\nThe Beijing-based company has selected China International Capital Corp., Citigroup Inc. and Nomura Holdings Inc. to work on the first-time share sale, the people said. Meicai could raise $300 million to $500 million, they said, asking not to be identified as the information is private.\nThe produce supplier started preparations for a Hong Kong IPO, Bloomberg News reported in July, joining Chinese firms such as Lalamove and Xiaohongshu in shifting such plans away from the U.S. .\nDeliberations are ongoing and details such as timing and fundraising size could change, said the people. Representatives for Citigroup, Meicai and Nomura declined to comment, while a representative for CICC didn’t immediately respond to requests for comment.\nMeicai -- whose name means “beautiful vegetable” in Chinese -- was founded in 2014 by rocket scientist Liu Chuanjun. Using a smartphone app, restaurant owners in China can order fresh produce directly from farms, cutting out middlemen. Meicai said it serviced more than 2 million restaurants in over 300 Chinese cities as of the end of 2020. 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