This article only represents the author's own views.
In a park in western Shanghai’s leafy Changning district, the Romomo Live Streaming Center is a showcase of livestreaming technology that’s all the rage these days on China e-commerce scene. The facility features 150 broadcast studios in two buildings and 300 resident hosts, who, on any given day, are likely to be pitching high-end international fashion and footwear brands. Those brands are all customers of Romomo’s parent, Shanghai Buy Quickly BMax Technology Services Group Co. Ltd.
Now, BMax is bringing its e-commerce services story to the capital markets with its application last week for a Hong Kong IPO, aimed at raising cash to expand the company’s fast-growing livestreaming business. The listing boasts an all-star cast of Citic Securities and CLSA as underwriter and coordinator, respectively, with HSG, formerly Sequoia China, as a major backer, indicating it’s likely to be relatively large, perhaps raising $100 million or more.