Snowball Finance plans $300m US IPO
By Caoimhe Toman
Date: Friday 07 May 2021
(Sharecast News) - Online financial information portal, Snowball Finance Beijing Internet Information Technology is planning an initial public offering in the US which could raise around $300m.
People with knowledge of the matter said that the company, which is backed by Ant Group, is working with advisers on the proposed share sale.
Snowball plans to file for the IPO as soon as May, according to one of the people, who spoke to Bloomberg.
Deliberations are ongoing, and details such as timing and offering size may change, the people said.
In December, Snowball Finance raised $120m in a series-E funding round led by Orchid Asia Group, according to the company's website.
It had previously raised over $170m from backers including Sequoia Capital China, Morningside Group and Ant Group, the website shows.
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