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Tencent-backed Waterdrop aims to raise $360m in New York IPO

Chinese online insurance tech company to sell 30m shares

Beijing-headquartered Waterdrop distributes insurance policies online and provides illness crowd-funding.    © Reuters

HONG KONG (Reuters) -- Chinese online insurance technology firm Waterdrop Inc aims to raise up to $360 million in an initial public offering on the New York Stock Exchange, company filings show.

Waterdrop, which is backed by Tencent, will sell 30 million American Depository shares for between $10 and $12 each, it said in the filings with the Securities and Exchange Commission (SEC).

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