Jan 5, 2022

Author of the article: Publishing date: Article content (Bloomberg) — Newlink Group, a Chinese energy startup that provides digital solutions to gas and electric-vehicle charging stations, is considering an initial public offering in Hong Kong that could raise $300 million to $400 million, people with knowledge of the matter said. The company is working with Morgan Stanley and China International Capital Corp. on a potential first-time share sale this year, the people said, asking not to be identified as the information is private. We apologize, but this video has failed to load. Try refreshing your browser, or Advertisement Article content Deliberations are ongoing and details such as timing and fundraising size could change, the people said. Representatives for Morgan Stanley and CICC declined to comment, while Newlink Group didn’t immediately respond to an email for comment. The listing plan by the company, which counts Bain Capital and Joy Capital among its backers, follows a couple of financing rounds last year, including one in March that raised $200 million. Bloomberg News reported at the time that Newlink Group was valued at more than $1 billion. Founded in 2016, Newlink Group offers an online platform that matches drivers in China with gas stations and charging piles. The service helps gas and EV charging station owners boost efficiency and profit, according to its website. Its apps Tuanyou and Kuaidian target more than 400 million drivers in China. The company is also backed by CMB International, CICC Capital, Xiaomi Corp., NIO Capital, Korea Investment Partners China, SME Development Fund and Hongtai Aplus, the website shows. ©2022 Bloomberg L.P. Share this Story: Bain-Backed China Startup Newlink Considering Hong Kong IPO, Sources Say