BEIJING, May 11 (TMTPOST)— Chinese food and grocery delivery startup Meicai considers listing in the United States as soon as this year and planned to raise US$ 500 million through the initial public offering (IPO), International Financing Review (IFR) quoted sources on Tuesday.
The news came amid skepticism aroused by the sudden resignation of Meicai ’s chief financial officer Wang Can in February. Wang was an executive director at Fosun International Ltd before joining in Meicai . His departure for so-called family reason was seen as a potential negative effect on the company’s IPO plan.
Founded in 2014, Meicai emerges as one of the leading agricultural product B2B service provider in China. Though hitting by the Covid-19 outbreak in 2020, the platform has recovered to 70%-80% of its pre-pandemic sales levels by the mid of that year. It was valued at about RMB50 billion, according to Hurun Global Unicorn Index 2020 released in last August.