China on­line mall eyes US list­ing

New Straits Times - - Business -

Fen­qile, a Chi­nese on­line shop­ping mall that lets users pay in in­stal­ments, is plan­ning a United States ini­tial pub­lic of­fer­ing that could raise about US$600 mil­lion (RM2.68 bil­lion), ac­cord­ing to peo­ple with knowl­edge of the mat­ter. The Shen­zhen-based startup, founded by for­mer Ten­cent Hold­ings Ltd ex­ec­u­tive Xiao Wen­jie, could list as soon as this year, ac­cord­ing to the peo­ple. Fen­qile tar­gets univer­sity stu­dents who are ea­ger to buy con­sumer prod­ucts yet can’t af­ford to pay in full.

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