Original title: ant GroupYoubao, the investor, is said to be considering a Hong Kong IPO of up to US $500 million. Source: financial circles Network

Youbao, a Chinese maker of intelligent vending machines, is considering an IPO in Hong Kong that could raise as much as $500m, according to people familiar with the matter.

The company is working with consultants on potential IPO issues and is considering a listing as early as later this year, according to people familiar with the matter. Youbao is also considering a round of financing ahead of the IPO, but the size of the financing has not yet been finalized. They say the company is currently valued at about $1 billion.

The matter is still under negotiation and details such as the size and timing of the IPO are still likely to change, according to people familiar with the matter. A representative for Youbao declined to comment.

According to information on Youbao's website, the company conducted a round of financing in 2019, raising 1.6 billion yuan ($246 million), led by Ant Group.