Tencent-Backed Auto Finance Platform Yixin Plans $6.77B HK IPO Despite Losses

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China’s largest online automobile financing platform Yixin Group, backed by investment heavyweights Tencent Holdings Ltd, Baidu Inc., JD.com and BitAuto Holdings Ltd, plans to raise up to HK$6.77 billion (US$867 million) via an initial public offering on the Hong Kong Stock Exchange.

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