Selfie app de­vel­oper to give de­tails on Hong Kong IPO

China Daily (Hong Kong) - - PAGE TWO -

Selfie ap­pli­ca­tion de­vel­oper Meitu Inc will hold a press con­fer­ence on Fri­day ahead of its ini­tial pub­lic of­fer­ings in Hong Kong, planned for later this month. Me­dia re­ports have sug­gested that the IPO would be worth about $750 mil­lion. Mor­gan Stan­ley, Credit Suisse Group and China Mer­chants Se­cu­ri­ties Co are the joint spon­sors of the of­fer­ing, ac­cord­ing to a fil­ing to the Hong Kong Stock Ex­change in Au­gust. Meitu’s app helps users ap­pear more at­trac­tive in pho­tos and videos. Meitu also sells smart­phones. It plans to use about 35 per­cent of the IPO pro­ceeds to ex­pand its smart hard­ware busi­ness.

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