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IPO

Hong Kong fintech unicorn WeLab seeks IPO amid virtual bank boom

Deal could value startup at up to $2bn as investors see 'good window' to list

Hong Kong's financial district. About $17.14 billion has been raised through new listings in the first three months of 2021, the best-ever start to a year. (Photo by Dean Napolitano)

HONG KONG -- WeLab, a Hong Kong financial technology company backed by billionaire Li Ka-shing, is in talks with investment banks in preparation for an initial public offering expected later this year, according to five people familiar with the situation.

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