Tencent-backed insurance platform Waterdrop targets US$360 million US listing

Waterdrop, the online insurance and medical crowdfunding platform backed by Tencent, has started marketing its initial public offering (IPO) of up to US$360 million on the New York Stock Exchange.The Beijing-based firm is selling 30 million American depositary shares (ADS) in a range of US$10 to US$12 each, according to a term sheet seen by the Post. Each ADS represents 10 ordinary shares.Waterdrop has an option to sell up to 4.5 million more shares if there is strong demand. Joint book-runners…

Tencent-backed insurance platform Waterdrop targets US$360 million US listing
Waterdrop, the online insurance and medical crowdfunding platform backed by Tencent, has started marketing its initial public offering (IPO) of up to US$360 million on the New York Stock Exchange.The Beijing-based firm is selling 30 million American depositary shares (ADS) in a range of US$10 to US$12 each, according to a term sheet seen by the Post. Each ADS represents 10 ordinary shares.Waterdrop has an option to sell up to 4.5 million more shares if there is strong demand. Joint book-runners…