Shulou(Shulou.com)11/24 Report--

Beijing time on March 6 evening news, According to reports, People familiar with the matter said today, AI robot developer CloudMinds (CloudMinds) is considering going to Hong Kong IPO (IPO), Up to 500 million US dollars (Currently about 3.455 billion yuan).

The person familiar with the matter said Dada Technology is working with China International Finance Co., Ltd.(CICC) and Haitong International Securities Group Co., Ltd. to prepare for the IPO as soon as this year. At present, the relevant discussions are still in the early stage, and the details of the IPO, including the size and timetable of the listing, may change in the future.

Representatives of Dazhou Technology, Zhongjin and Haitong Securities have not commented on this.

Founded in 2015, Dada Technology has global headquarters in Shanghai and branches in Beijing, Shenzhen, Chengdu, Hefei and Zhuhai. Dada Technology is the world's leading creator, manufacturer and operator of cloud robots, with major investors including SoftBank Vision Fund and Foxconn's Hong Kong-listed subsidiary FIH Mobile.

Dada applied for a U.S. listing in 2019 and hired Citigroup, JPMorgan Chase and UBS to handle the matter. But then, Dada Technology cancelled the listing plan.

At the time, documents filed with the Securities and Exchange Commission showed revenue of $148 million and a loss of nearly $100 million in the first half of 2019.

In addition, SoftBank is the largest shareholder of Dada Technology, with a shareholding ratio of about 34.6%.

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