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Secondhand car dealer eyes IPO: report

Chinese secondhand car dealer xin.com plans an IPO in the US to raise $800 million, media reported on Tuesday.

The Chinese company will appoint Goldman Sachs, JPMorgan Chase & Co and Morgan Stanley as issuers, domestic tech news site awtmt.com reported.

The company declined to further comment on the issue.

In 2013, its parent company finalized A-round financing of $30 million, co-invested by Chinese Internet giant Tencent Holdings and venture capital firms such as Legend Capital and Hillhouse Capital.

The company has so far raised more than $1 billion.

The company has no timeline for the IPO, a PR representative from xin.com was quoted as saying in a separate media report.

Meituan CEO denies listing rumor

Wang Xing, CEO of Meituan-Dianping – a Chinese online platform for ordering food and booking movies and restaurants – has denied media reports about an upcoming IPO in the US.

Reuters reported on Tuesday that the company may hold an IPO in the US as soon as next year to raise at least $3 billion.

Led by Wang Xing, the company’s backers include Tencent, Sequoia Capital, Singaporean state investors GIC Pte and Temasek, as well as DST Global and the Canada Pension Plan Investment Board, according to Reuters.