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The medical device maker could seek to raise about $300 million to $500 million.
The whole sector has been rattled as gaming companies from online giant Tencent Holdings Ltd. to small developers await approvals.
The financing comes just weeks after the Chinese unit of WeWork Cos. said it was raising $500 million to boost growth in the country.
Ping An has been under pressure to find new areas of growth after China’s crackdown on financial risk limited prospects for the nation’s insurance firms.
The company held meetings with potential investors for a financing that could value Bytedance at as much as $75 billion.
The fact that it didn’t slump allowed China Tower to avoid becoming another Xiaomi, which initially saw itself storming into Hong Kong as a $100 billion company only to face a series of setbacks.
Google is looking at ways to re-enter China, home to the biggest pool of internet users, through a search app that complies with Chinese censorship
Steinway Musical Instruments Inc. has attracted takeover interest from state-owned China Poly Group Corp.
Lenders would make a so-called “credit bid” by using their senior secured notes in the Asia business rather than cash.
The company was looking to sell a controlling stake in its polysilicon unit worth $1.9 billion to Shanghai Electric Group Co