Chinese smart home appliance maker Dreame Technology is reportedly exploring an initial public offering (IPO) to potentially raise at least $300 million, according to Bloomberg News.
The company has enlisted the advisory services of China International Capital Corp., Goldman Sachs, and Morgan Stanley for a share sale that could occur later this year.
While the U.S. is being considered as a potential listing location, the final decision will hinge on market conditions, and plans may still change, the report says.
However, when Bloomberg News reached out for a comment, a representative from Dreame dismissed the listing speculation as "misinformation," without providing further details.
Based in Suzhou, Dreame secured 3.6 billion yuan ($501 million) in its Series C funding round in 2021, with Huaxing Growth Capital and CPE Funds Management leading the round.
This round also saw participation from strategic investors, including a subsidiary of the embattled real estate giant Country Garden Holdings.