WM Tech Corp.’s planned initial public offering in Hong Kong is facing delays as the city’s bourse questions the supermarket owner on its business operations, people with knowledge of the matter said.
The Beijing-based company behind the Wumart chain and Metro AG’s outlets in China is addressing queries Hong Kong Exchanges and Clearing Ltd. raised during the IPO vetting process, said the people, asking not to be identified as the information isn’t public.
WM Tech's $1 Billion Hong Kong IPO Stalls on Vetting - Bloomberg
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