YH Entertainment Group, a Chinese artist management company most famous for its star Wang Yibo, is planning to start taking retail investor orders for its Hong Kong initial public offering as soon as Wednesday, according to people with knowledge of the matter.
(Bloomberg) — YH Entertainment Group, a Chinese artist management company most famous for its star Wang Yibo, is planning to start taking retail investor orders for its Hong Kong initial public offering as soon as Wednesday, according to people with knowledge of the matter.
The Beijing-based company will start taking institutional investor orders on Thursday for the IPO, which could raise as much as HK$1.1 billion ($140 million), said the people, asking not to be identified as the information is private.
There is a potential over-allotment option that could increase the size of the listing to HK$1.3 billion, they said.
The company, which counts Alibaba Group Holding Ltd., ByteDance Ltd.’s Douyin app and media conglomerate CMC as backers, manages artists, produces music and sells merchandise, according to a preliminary exchange filing.
Deliberations are ongoing and details of the IPO could change, the people said.
IFR on Tuesday first reported the book opening and IPO size. A representative for YH didn’t immediately respond to a request for comment.
Other big-name artists in YH’s client roster include Meng Meiqi, Fan Chengcheng and Zhu Zhengting, all of whom shot to fame after appearing on popular variety shows.
China Securities International and China Merchants Securities are joint sponsors of YH Entertainment’s offering, the filing shows.
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