ByteDance-Backed Dongchedi Is Said to Consider Hong Kong IPO

Beijing Dongchedi Technology Co., an automotive information and trading platform known as DCar, is considering an initial public offering in Hong Kong as soon as this year, according to people familiar with the situation.

Dongchedi is seeking to hire banks for a potential share sale, the people said, asking not to be identified discussing a private matter. The company could raise $1 billion to $1.5 billion from the offering, two of the people said.