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07 May, 2021 17:29 07 May, 2021 17:32

Snowball Finance plans $300m US IPO

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Billete de 2 dólaresMERCADO FINANCIERO - Archivo

Online financial information portal, Snowball Finance Beijing Internet Information Technology is planning an initial public offering in the US which could raise around $300m.

People with knowledge of the matter said that the company, which is backed by Ant Group, is working with advisers on the proposed share sale.

Snowball plans to file for the IPO as soon as May, according to one of the people, who spoke to Bloomberg.

Deliberations are ongoing, and details such as timing and offering size may change, the people said.

In December, Snowball Finance raised $120m in a series-E funding round led by Orchid Asia Group, according to the company's website.

It had previously raised over $170m from backers including Sequoia Capital China, Morningside Group and Ant Group, the website shows.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.