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China online pharmacy Ecmoho plans US listing
ECMOHO, an online marketplace for drugs and supplements, is planning a US initial public offering, according to people with knowledge of the matter.
The Shanghai-based company is working with advisers on the planned offering that could raise about US$100 million, the people said. The share sale could happen as soon as this year, one of the people said, asking not to be identified because the information is private.
Ecmoho is planning a share sale amid an escalating trade war between China and the US that has caused market uncertainties and the delay of several deals. DouYu International Holdings Ltd, a Chinese video-game live-streaming platform, in May postponed the launch of its US IPO following market jitters. Hutchison China MediTech Ltd delayed a Hong Kong listing.
Deliberations are at early stage, and details including the fundraising size and timeline could change, the people said. Ecmoho did not immediately respond to e-mails and phone calls seeking comment.
The e-commerce platform, launched in 2011, has more than 150 exclusive distribution or online partnerships with brands such as Unilever and Beijing Tong Ren Tang Chinese Medicine Co, according to its website. It also develops and manufactures supplements, as well as operates a postnatal care centre. BLOOMBERG