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Report: Huifu to raise US$200M in Hong Kong IPO

Shanghai-based payments service provider Huifu Payment is eyeing a capital raise of about US$200 million through an IPO on the Hong Kong stock exchange in June, the South China Morning Post reported, citing unnamed sources.

The company will begin trading June 15 and shares will open for subscription June 1, according to the sources.

Huifu Payment, which offers transaction and financial technology services to small and midsize businesses, is among one of the first companies to obtain a digital payment license from the People’s Bank of China.