Credit Suisse, CICC Said to Be Picked for Beijing United GDRs

Chinese e-commerce platform Beijing United Information Technology Co. has selected banks for a sale of global depositary receipts in Switzerland that could raise about $500 million, according to people familiar with the matter.

The Shanghai-listed company is working with China International Capital Corp. and Credit Suisse Group AG on the potential share sale, the people said. A listing could happen as soon as end of this year, the people said, asking not to be identified as the information is private.

Deliberations are ongoing and details including size and timeline could still change, the people said. More banks could be added ...