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Tencent-backed Waterdrop faces pushback on IPO from Chinese regulators

Beijing-headquartered Waterdrop distributes insurance policies online and provides illness crowd-funding

Tencent Holdings | tencent | China


(Refiles to correct name of company in paragraph 13 to Meituan from its former name Meituan Dianping) SHANGHAI/HONG KONG (Reuters) - Chinese online insurance technology firm Waterdrop Inc is receiving pushback from domestic regulators on its planned U.S. initial public offering as its business model is seen as risky, four people familiar with the situation told Reuters. Waterdrop, which is backed by internet giant Tencent Holdings, has been working with financial advisers since mid last year on going public and had already made a confidential filing for the float, said three of the ...

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First Published: Tue, April 13 2021. 08:54 IST