Tencent, SoftBank and Alphabet are in line for exits after the trucking services provider confidentially filed to float in a US initial public offering sized above $1bn.
Manbang Group, the China-based trucking services provider backed by corporates Tencent, SoftBank and Alibaba, has confidentially filed for an initial public offering, Bloomberg reported on Friday.
The company has filed to list in the United States, according to people familiar with the matter, who said it would aim to raise at least $1bn. Morgan Stanley and China International Capital Corp have been lined up as underwriters for the offering.
Also known as Full Truck Alliance, Manbang oversees an online platform…
