SoftBank-backed car trader Chehaoduo said to explore funding options

Traffic travels along the Second Ring Road in Beijing, China, on Wednesday, Dec. 2, 2015. Photographer: Qilai Shen/Bloomberg

China’s car trading platform Chehaoduo Group, backed by SoftBank Vision Fund, is exploring options to raise several hundred million dollars after auto sales took a hit in the coronavirus outbreak, according to people familiar with the matter.

The company is studying possibilities including equity fundraising and asset-backed securities issuance, said the people, who asked not to be identified as the discussions are private. The car platform is also considering seeking support from local government, one of the people said.

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