BEIJING, January 21 (TMTPOST)— Hong Kong-based on-demand logistic company Lalamove, also known as Huolala, could launch its initial public offering (IPO) in the second half of 2021 and two US banking giants JP Morgan Chase and Morgan Stanley set their target valuation for the company at US$30 billion, Chinese technology media outlet Awtmt learned on Thursday.
According to the outlet, Lalamove is close to complete its latest funding of US$1.5 billion, as its pre-IPO funding, and aims to boost firepower for competition in citywide delivery.
It is also reported that Chinese truck-hailing platform Manbang Group could initiate its IPO in the latter half of year as well.
Lalamove responded that it has no plan about IPO currently. Manbang declined to comment on the report.