Chinese payment service firm Yeepay eyes Hong Kong IPO

Its planned share sale could raise about US$200m.

Bloomberg reports that Beijing-based payment service provider YeePay is said to be planning a possible flotation next year in Hong Kong that could raise up to US$200m. 

Backed by TA Associates and Far East Horizon Ltd., YeePay processes online payments and operates its own e-wallet system. It counts Baidu, JD and Air China amongst its merchant partners.

First-time share sales in Hong Kong have raised nearly $US$23.8b this year which is more than twice the US$9.2b deals recorded in the same period last year, according to Bloomberg data, as Hong Kong steps up its efforts to move up the global IPO leaderboard.

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