Chinese online tutoring platform Zuoyebang is considering a U.S. initial public offering that could raise at least $500 million, according to people familiar with the matter. Loosely translated as “homework assistant," Zuoyebang is a spinoff of China’s search engine titan Baidu Inc. Zuoyebang could be joining a list of Chinese companies that are looking for a U.S. listing despite political tensions between Beijing and Washington. Any deal would add to the nearly $4.6 billion raised by Chinese companies in the U.S. this year, according to data compiled by Bloomberg. Deliberations of Zuoyebang’s IPO are ongoing and details including size and timeline could still change, the people said.

Source: Mint April 21, 2021 01:18 UTC