91传媒在线

Full Truck Alliance, a digital freight platform backed by a Gaw Capital Partners fund, has joined the New York Stock Exchange and expects to raise up to $2bn (鈧�1.7bn) in its initial public offering (IPO).

The Chinese company, backed by Gaw Growth Equity Fund I, is the world鈥檚 largest digital freight platform by gross transaction value and has a $23bn (鈧�19bn) market capitalisation. The IPO, which has been priced, is expected to raise between $1.bn to $2bn depending on purchase.

Gaw Capital said Full Truck Alliance is considered as 鈥漢ighly scalable with great potential and is proven to be one of the most successful private equity investments under Gaw Growth Equity Fund I鈥� given its successful listing in New York Stock Exchange. 

The freight platform, which covers more than 300 Chinese cities, connects shippers with truckers to facilitate shipments across distance ranges, cargo weights and types.

Humbert Pang, managing principal and head of China for Gaw Capital Partners, said: 鈥淔ull Truck Alliance has built a data-enabled ecosystem for comprehensive freight services that resolves the mismatch of orders and trucks in China.

鈥淲ith the deployment of big data and AI, Full Truck Alliance offers an optimised freight transaction process and transaction security, with improved value-added services to enhance user stickiness.鈥�

Gaw Growth Equity Fund I invests in Asia-focused property technology and real estate-related operating companies.

To read the digital edition of the latest 91传媒在线 magazine click here.