Vending

Chinese vending company seeks public offering

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June 7, 2022

Beijing Ubox Online Technology Corp., China's largest vending operator, has filed for an initial public offering in Hong Kong despite pandemic caused losses, according to an msn.com report.

The company secured funds in 2019 from Alibaba's Ant Financial affiliate, which led a 1.6 billion yuan ($240 million) funding round.

At the end of 2021, the company had more than 102,700 machines in 31 provinces and 288 cities in China.