Chinese bike sharing operator Hello Inc. said to have suspended New York IPO plans

HelloBike bicycles stand parked on a sidewalk in Shanghai, China, on Wednesday, Jan. 9, 2019. Photographer: Qilai Shen/Bloomberg

Shared bike operator Hello Inc. has put its plans for a New York IPO on hold, a source said on Thursday, just a day after the 11th-hour withdrawal of another major Chinese high-tech listing by dating app Soul.

Hello, which is backed by Alibaba’s Ant Group financial affiliate, filed its prospectus for a New York listing on April 23, with a target of raising $100 million. But it never updated the fundraising figure, and its name recently was removed from a list of active IPO filings on the New York Stock Exchange’s website.

A source with direct knowledge of the situation told Caixin “the deal has been postponed,” while at the same time stressing it hadn’t been withdrawn. A company representative could not be immediately reached using the contact number provided on Hello’s original IPO prospectus.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.