Chinese Online Insurer Shouhui Considers Hong Kong IPO in 2024
(Bloomberg) -- Shenzhen Shouhui Technology Group Ltd., a Chinese online insurance platform, is considering an initial public offering in Hong Kong as soon as next year, according to people familiar with the matter.
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China International Capital Corp. 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 $200 million to $300 million in its first-time share sale, said one of the people, depending on the market condition.
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 Shouhui Tech didn’t respond to requests for comment.
Founded in 2015 in Shenzhen, Shouhui Tech offers full service in insurance from online consulting to purchasing and compensation, according to its website. It acquired an internet hospital license in 2022 which allows it to offer online medical services. The company counts HongShan, Matrix Partners China, Tasly Holding Group Co. and Gopher Asset Management Co. as investors.
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