China’s Dmall Is Said to Pick Credit Suisse, CMBI for HK IPO

Beijing Dmall E-commerce Co., an online retail service provider backed by Chinese supermarket Wumart Group, has selected banks for an initial public offering in Hong Kong as soon as next year, according to people familiar with the matter.

The e-commerce platform is working with Credit Suisse Group AG and CMB International Capital Ltd. on the listing, the people said, asking not to be identified because the matter is private. The company hasn’t made a final decision on the size, the people said.

The firm had been seeking to raise about $500 million in a US IPO last year, but ...