Trucking Startup G7 Said to Weigh $500 Million Hong Kong IPO (1)

G7, a fleet management company backed by Tencent Holdings Ltd., is weighing an initial public offering in Hong Kong that could raise about $500 million as soon as this year, people with knowledge of the matter said.

The Chinese firm is working with China International Capital Corp., Citigroup Inc. and Morgan Stanley on the proposed share sale, said the people, who asked not to be identified as the information is private.

Deliberations are ongoing and details of the fundraising such as size and timing could change, the people said. Representatives for CICC, Citigroup and G7 declined to comment, ...