Wangjin has hired Credit Suisse and Goldman Sachs to lead its IPO on the Hong Kong Stock Exchange (HKEX). The Guangzhou-based company builds and operates online finance platforms for Chinese banks and insurers.
Meanwhile, China Reading, backed by internet firm Tencent Holdings, is expected to list in Hong Kong as soon as the last quarter of 2017, said a source familiar with the matter. It is yet to mandate banks for its float.
The online literature company sells e-books, much like Amazon’s Kindle store, and has more than 600m users, according to its website.
Wangjin and China Reading's planned listings will come alongside various other Chinese technology firms looking to list in Hong Kong this year, such as peer-to-peer lender Lufax, which is set to float for around $5bn.
Alipay operator Ant Financial Services Group — the financial services affiliate of e-commerce firm Alibaba Group Holdings — is also planning a multi-billion-dollar IPO on the bourse, expected in 2017.
The last tech company to list in Hong Kong was selfie app maker Meitu, which made a splash in December with its HK$4.9bn ($631.7m) transaction — a landmark tech IPO for the city.
The listing by the Xiamen-based company, which is known for its selfie editing app MeituPic, was expected to inspire more tech firms to look at Hong Kong as a potential listing destination, ECM bankers said at the time.