Chinese second-hand electronics trading platform Aihuishou plans to file an initial public offering (IPO) in the U.S. by early June, aiming to raise $500 million to $1 billion, according to Reuters.

The sources noted that Aihuishou is eyeing a valuation of $4 billion to $5 billion in the IPO. Chinese Internet retail giant JD.com, Inc. (Nasdaq: JD) is a major shareholder of the company.

The company has hired Bank of America and Goldman Sachs to work on the IPO, which is scheduled to be filed around mid-May, the sources said.

Aihuishou and the two investment banks would not comment.

Source: https://www.reuters.com/technology/used-electronics-trading-platform-aihuishou-raise-up-1-bln-us-ipo-sources-2021-04-18/