Market Chatter: SoftBank-Backed Patsnap Files for Dual IPO in Hong Kong, Singapore

MT Newswires12:24

Intellectual-property data provider Patsnap, backed by SoftBank (TYO:9434) and Tencent (HKG:0700), has confidentially filed for a dual initial public offering in Hong Kong and Singapore, Bloomberg News reported Monday, citing people familiar with the matter.

The company has submitted a draft IPO registration seeking to raise $300 million to $400 million at a valuation of more than $2 billion, the people said. Deliberations are ongoing and details such as listing size and timing remain under discussion, they added.

Headquartered in Singapore, Patsnap provides IP data and analytics tools to more than 15,000 companies.

Patsnap did not respond to a request for comment from MT Newswires.

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