Li Ka-shing-backed fintech firm WeLab files for Hong Kong IPO

Li Ka-shing-backed fintech firm WeLab files for Hong Kong IPO

WeLab founder and CEO Simon Loong. Photo: WeLab's LinkedIn page

Hong Kong-based WeLab, the mobile lending platform operator backed by billionaire Li Ka-shing, has filed for an initial public offering on the Hong Kong Stock Exchange as it actively seeks to expand in Southeast Asia.

Its filing did not disclose the number of shares it plans to offer and the total amount it intends to raise but earlier reports hinted that WeLab, founded in 2013, seeks to raise $500 million through an IPO.

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