The social commerce platform, backed by Tencent and Bertelsmann, has hired Morgan Stanley, Credit Suisse and China Renaissance as underwriters for its initial public offering.
Meili, a China-based fashion e-commerce platform backed by media group Bertelsmann, is aiming to raise $500m in an initial public offering in the second half of 2018, Reuters reported yesterday.
The company is seeking a flotation in the US and has hired Morgan Stanley, Credit Suisse and China Renaissance as underwriters, unnamed sources told Reuters. Initial reports last month about an IPO placed its valuation at up to $4bn, though no further details have emerged.
Meili is the result…
