PingPong considers a USD 1 bln Hong Kong IPO

Wednesday 2 February 2022 12:17 CET | News

China-based fintech startup PingPong has announced considering an initial public offering in Hong Kong to raise as much as USD 1 billion.

PingPong is working with Morgan Stanley, Goldman Sachs, and Citic Securities on a listing that could happen as soon as 2022. The firm had previously considered a listing in mainland China.

PingPong is also seeking about USD 300 million in a pre-IPO private funding round. It is currently valued at about USD 5 billion.

Founded in 2015, PingPong collects payments for Chinese exporters selling through services such as, Shopify, and Shopee, a unit of Singapore’s Sea, its website shows.

PingPong is used by more than a million merchants for cross-border, value-added tax, and supplier payments, according to the website. It offers sellers the ability to manage multiple currencies in a single, secure platform, and has over 600 employees in locations across the US., Europe, and Asia. 

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Keywords: fintech, IPO, Goldman Sachs, funding, investment
Categories: Payments & Commerce
Companies: PingPong
Countries: Hong Kong
This article is part of category

Payments & Commerce


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