Ecmoho, an Online Pharma Retailer, Reportedly in Talks for a $100 Million U.S. Listing
China-based online pharmacy Ecmoho is seeking to draw New York investors to its $100 million public floating as soon as this year.
The company, which distributes medical products and supplements, is in talks with advisers on the planned initial public offering in the United States, according to Bloomberg citing unnamed sources.
The announcement comes at a time of rising trade tensions between the world's two largest economies, with some groups in Washington threatening to push out Chinese companies from Wall Street. And while some companies like Tencent-backed game livestreaming platform DouYu International Holdings Ltd., which filed for a U.S. IPO earlier this year, have postponed their plans, others are rushing in to beat possible complications.
The preparations for an IPO by Ecmoho are at an early stage, with the size and timeline subject to change, Bloomberg said.
On its U.S. website, the Shanghai-based company said it began as an e-marketing service in 2002 and transitioned to e-commerce in 2006. In 2011, it shifted focus to pharmaceuticals, and today sells products for global brands, as well as domestic. Among its partners in distribution are Unilever and Beijing Tong Ren Tang Chinese Medicine Co.
Ecmoho is collaborating with China's biggest online retail networks including Tmall, operated by Alibaba Group Holding Ltd. (NYSE: BABA), and JD.com Ltd. (Nasdaq: JD).
In addition to its locations in mainland China and Hong Kong, Ecmoho has branches in the United States, Asia Pacific, and Europe.
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