NEWLINK Group, a Chinese energy startup that provides digital solutions to gas and electric vehicle charging stations, is considering an initial public offering (IPO) in Hong Kong that could raise US$300 million to US$400 million, people with knowledge of the matter said.

The company is working with Morgan Stanley and China International Capital Corp. (CICC) on a potential first-time share sale this year, the people said, asking not to be identified as the information is private.

The listing plan by the company, which counts Bain Capital and Joy Capital among its backers, follows a couple of financing rounds last year, including one in March that raised US$200 million.

Founded in 2016, Newlink Group offers an online platform that matches drivers in China with gas stations and charging piles. The service helps gas and electric vehicle charging station owners boost efficiency and profit, according to its website. Its apps Tuanyou and Kuaidian target more than 400 million drivers in China. (SD-Agencies)