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

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.

China Money Network

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