Tencent-backed WeDoctor said to pick banks for Hong Kong IPO

Photo: Reuters

WeDoctor, one of China’s biggest online health-care startups, has selected JPMorgan Chase & Co., Credit Suisse Group AG and CMB International to lead a Hong Kong initial public offering, people familiar with the deal said.

The startup could become one of the largest technology companies to brave volatile public markets in 2020. WeDoctor envisions raising at least $500 million and as much as $1 billion, one of the people said, asking to remain anonymous discussing a private deal. The details could change given that deliberations are ongoing, the people said. More banks may be invited to join the deal in future, one person said.

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