23 April 2026Business & Strategy
Alibaba-backed Zelos targets $600m Hong Kong IPO as China tech revives
Zelos, backed by Alibaba, plans a $600 million Hong Kong IPO as Chinese tech companies return to public markets after two years of regulatory crackdowns. The timing tests whether international investors will re-embrace Chinese growth stories or remain skeptical of regulatory risks. Success could open the floodgates for other Alibaba portfolio companies seeking liquidity. The IPO also serves as a barometer for Hong Kong's ability to compete with US exchanges for high-growth tech listings.
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