A startup backed by SoftBank considers raising $1 bln in Hong ‎Kong

The Chinese home rental platform, “Ziroom”, plans to list in Hong Kong, which may raise about one billion dollars this year, according to what was reported by “Bloomberg” agency, citing sources, and viewed by Al Arabiya.net.

According to “Al-Arabiya”, the sources said that the startup, backed by the “Soft Bank” group, is working with “Citi Securities”, “Goldman Sachs” and “Morgan Stanley” on the upcoming offering.

The sources expected the initial offering prospectus to be submitted to the Hong Kong Stock Exchange as early as April

If the offering crosses the $1 billion mark, it will be the largest in Hong Kong since the $1.3 billion offering of CALB, EV battery maker in October, according to data compiled by Bloomberg.

This comes as bankers and analysts expect a rebound in stock sales for the first time in the city after its borders reopened, limiting the worst year for IPOs since the financial crisis.