Meicai: Chinese produce startup Meicai reportedly prepares for Hong Kong IPO

Meicai, a Chinese app that supplies farm produce to restaurants, has picked China International Capital Corp., Citigroup Inc., and Nomura Holdings Inc. to help it prepare for an initial public offering in Hong Kong, Bloomberg reported on Monday. The listing could raise between $300 million to $500 million. The company, valued at about $7 billion after its latest found in September 2018, reportedly shelved its US IPO plan in July due to China tightening scrutiny on overseas IPOs. [Bloomberg]