Chinese online insurance technology firm Waterdrop Inc. has raised $360 million by pricing its shares at $12 a piece in its New York initial public offering (IPO), according to two sources with direct knowledge of the matter. The company, which …
HONG KONG — Chinese online insurance technology firm Waterdrop Inc. aims to raise up to $360 million in an initial public offering on the New York Stock Exchange, company filings show. Waterdrop, which is backed by Tencent, will sell 30 …
BEIJING — Chinese financial watchdogs on Thursday summoned 13 internet platforms engaged in finance business, including heavyweights Tencent and ByteDance, to order them to strengthen compliance with regulations, the central bank said. The move by the four regulators is part …
SHANGHAI/HONG KONG – Chinese online insurance technology firm Waterdrop Inc. is receiving pushback from domestic regulators on its planned U.S. initial public offering as its business model is seen as risky, four people familiar with the situation told Reuters. Waterdrop, …
Ant Group’s late-summer IPO filing drove home why the business — backed by 711 million active users that spent $17 trillion through its platform — is headed for potentially the world’s largest stock debut. Yet investors may do well to …
Ant Financial’s Alipay and Tencent Holdings Ltd. warned that cyber attackers employed stolen Apple IDs to break into customers’ accounts and made off with an unknown amount of cash, in a rare security breach for China’s top digital payments providers. …
Zhong An Online Property & Casualty Insurance plans to sell 5-10 percent of the company to a couple of strategic investors, to raise up to 10 billion yuan ($1.45 billion), ahead of a planned initial public offering in mainland China, …
While China’s fintech boom continues unabated, another fast-growing phenomenon has gone almost unnoticed — so-called insurtech, the latest industry to be spawned by the intersection of online finance and the world’s biggest army of internet shoppers. Even as Chinese regulators …
Zhongan Online P&C Insurance Co. scrapped plans for an initial public offering in Hong Kong or the U.S. and is instead focusing on a listing in mainland China, people familiar with the matter said. Lukewarm overseas interest and an attempt …
China’s Alibaba Group Holding Ltd. and Tencent Holdings Ltd. rallied behind Beijing’s recently imposed cyber security law on Thursday, following criticism of it from overseas technology rivals. The country’s two tech giants also urged closer cooperation between the public and …
