Report: Maternity products marketplace PatPat preps IPO
PatPat, a Softbank-backed clothing and maternity products online marketplace, is exploring an IPO, per Bloomberg, seeking to raise around $500 million.
Location, location, location: PatPat is reportedly considering Hong Kong or the U.S. for its listing venue, and the ultimate choice will say a lot about how executives, boards, advisers and investors are weighing the two markets.
- These days, choosing Hong Kong or New York says a lot more about the direction of a company than it used to. Beijing's influence is far heavier than it's ever been since the handover, with Hong Kong's reputation as a global financial hub losing ground by the minute.
- PatPat's decision to list in Hong Kong would signal a major China focus for its products and consumers, a New York float would show investors its intent to focus on U.S. customers, where it's based.