Meilishuo seeking IPO in New York

Online fashion retailer Meilishuo, backed by Tencent Holdings, is seeking an IPO in the US that could value the start-up at about US$4 billion.

Many tech corporations in China opt for New York for their debut listings as it offers a wide investor base and higher international profile.

Meilishuo is reported to be talking with investment banks about the move.

Founded in 2009, the company sells clothes, shoes and handbags. In 2016 it had about 15,000 merchants on its website and a mobile app that had been downloaded 100 million times. That year it merged with rival Mogujie, which was founded in 2011 and had about 130 million registered users. The re-formed company was valued at $3 billion.

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