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IPO

China's 'Uber for trucks' preps $1.5bn New York IPO

Tencent-backed Full Truck Alliance is investing in autonomous driving technology

Full Truck Alliance connects over 2.8 million truckers to 1.4 million shippers across 300 cities in China, generating by charging shippers membership and freight brokerage fees.   © Reuters

HONG KONG -- Tencent Holding-backed Full Truck Alliance -- sometimes referred to as China's "Uber for trucks" -- is gearing up for an initial public offering on the New York Stock Exchange, filings show.

The offering could raise between $1 billion and $1.5 billion, two people familiar with the transaction said, and could become the second largest Chinese IPO in the U.S. this year, after that of e-cigarette maker RLX Technology.

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