MARKETS & INVESTING | Staff Reporter, Hong Kong

Alibaba-backed e-parenting firm eyes $1b Hong Kong IPO

Babytree is targeting a valuation of up to US$5b.

Reuters reports that Mainland online parenting firm Babytree Group is said to be planning to raise up to US$1b in a Hong Kong IPO in October.

Also read: Hong Kong raises record US$19.2b in summer IPO haul

Founded in 2007, Babytree’s main platform enables parents to receive and share pregnancy and parenting information but has since expanded into other similar outlets including Babytree Parenting mobile app and e-commerce site Meitun Mama.

Babytree, which counts Alibaba and conglomerate Fosun International amongst its high-profile backers, is reportedly aiming for a valuation between US$3b and US$5b.

Also read: Hong Kong can expect at least 15 more blockbuster IPOs in the second half of the year

The proposed share sale is the latest on a packed Hong Kong consumer IPO calendar over the coming months, including a US$4b deal from online food delivery-to-ticketing services platform Meituan Dianping and a US$1b listing of hotpot chain Haidilao.

Here’s more from Reuters:

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