Tencent-backed Waterdrop launches $360m US listing

By Jonathan Breen
03 May 2021

China’s Waterdrop, a health insurance and healthcare crowdfunding platform, has opened the book for an up to $360m New York Stock Exchange IPO.

The startup includes an insurance marketplace and platforms for medical crowdfunding and mutual aid. It is raising funds to expand its healthcare services and insurance business, as well as for research and development.

The company is floating 30m American depository shares (ADS), each representing 10 class A ordinary ...

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