China's Full Truck Alliance said to have paused $1b Hong Kong IPO

China's Full Truck Alliance said to have paused $1b Hong Kong IPO

Plans by Full Truck Alliance Co Ltd, China’s ‘Uber for trucks’, to raise $1 billion in a Hong Kong listing this year have been paused as a Chinese cybersecurity regulator has yet to announce findings of a probe into the company, two people with knowledge of the matter told Reuters.

The company, backed by investors including SoftBank’s Vision Fund and Tencent Holdings and known as Manbang in China, has been planning a dual primary listing in Hong Kong since at least October. It raised $1.6 billion in its New York initial public offering (IPO) in June last year.

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