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Caixin

Tencent-backed WeDoctor readies Hong Kong IPO

Money-losing Chinese medical services provider seen lured by high valuations

People walk past the booth of online healthcare solutions platform WeDoctor at the Global Mobile Internet Conference in Beijing in 2017.   © Reuters

WeDoctor, an online medical services provider backed by Tencent Holdings Ltd., plans to file a prospectus by October for a Hong Kong IPO that it hopes will raise between $700 million and $900 million, Caixin can reveal.

The windfall would value the money-losing tech company at around $5.5 billion, about the same as a $50 million May funding round.

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