MEITUAN RAISES $4.2 BN IN HONG KONG IPO

Business Today - - THE BUZZ -

Ten­cent-backed Meituan Dian­ping, a Chi­nese e-com­merce and de­liv­ery app, raised $4.2 bil­lion in a Hong Kong IPO, af­ter pric­ing the newly is­sued shares near the top of its of­fer­ing range, CNN says. It is the world’s big­gest In­ter­net-fo­cussed IPO in four years. The IPO price of $8.79 a share val­ues Meituan at about $53 bil­lion, which is lower than the $60 bil­lion it was seek­ing, but a big rise from its ear­lier $30 bil­lion val­u­a­tion.

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