The Full Truck Alliance could file for $30 billion U.S. IPO


Ella Jones, Deputy Editor In Chief

Date: 21.05.2021

A Chinese trucking start-up could file publicly for a U.S. listing this week which could value the company as much as $30 billion, a person with knowledge of the matter told CNBC.

The Full Truck Alliance connects truck drivers to people who want to ship items, a model that often earns the company the title “Uber for trucks.”

Bloomberg reported in February that the Full Truck Alliance, known as Manbang in Chinese, already filed confidentially for an initial public offering (IPO) with U.S. regulators.

The Full Truck Alliance could raise around $1.5 billion from the IPO at a valuation of between $20 billion and $30 billion, said the source, who wished to remain anonymous as they were not authorized to speak publicly.

In November, the Full Truck Alliance raised $1.7 billion from some high profile backers including SoftBank and Tencent.

by Ella Jones | Linkedin

#News #IPO #ICO #TheFullTruckAlliance

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