ByteDance's Autocharts Plans Hong Kong IPO with Up to HK$11.7 Billion Fundraising

NightAirdropper · 2026-03-24T06:17:36+00:00

ByteDance's AutoTrader subsidiary plans to list in Hong Kong, aiming to raise up to 11.7 billion Hong Kong dollars to support independent operations and expansion. Citigroup and Goldman Sachs have been selected as underwriters, with plans still in preliminary stages. The company completed a 600 million US dollar funding round in 2024, laying the groundwork for the listing.

NightAirdropper

2026-03-24 06:17:36

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Guanfaren.com News: On March 20, market reports indicate that ByteDance’s automotive information and transaction platform, Dongchedi, has reportedly hired an investment bank to arrange a Hong Kong listing, aiming to raise up to HKD 11.7 billion (approximately USD 1.5 billion) to support its independent operations and business expansion.

It is understood that Dongchedi has selected Citigroup and Goldman Sachs as its listing arrangers, but the plan is still in the preliminary stage, and the fundraising scale and timeline may vary.

The company completed a $600 million funding round in 2024, with a valuation close to $3 billion, paving the way for its IPO.

Dongchedi was founded in 2017 and became independent after spinning off from ByteDance at the end of 2023, rapidly expanding through its short video ecosystem.

Disclaimer: The content and data of this article are compiled by Guanfaren.com based on publicly available information and do not constitute investment advice. Please verify before use.

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