Goldman-Backed ClinChoice Is Said to Consider Hong Kong IPO

ClinChoice, a clinical trial services provider backed by Goldman Sachs Group Inc., is considering a Hong Kong initial public offering as soon as next year, according to people familiar with the matter.

The company is working with China International Capital Corp. and Morgan Stanleyon preparations for the potential listing, the people said, asking not to be identified because the matter is private. A first-time share sale could raise a few hundred million dollars, valuing the business at about $1 billion, one of the people said.

Considerations are preliminary and details of the offering including size and timeline could ...