Caixin
Sep 14, 2018 11:01 AM
BUSINESS & TECH

Meituan Prices Hong Kong IPO Near Top of Range

Meituan-Dianping CEO Wang Xing (center) at IPO press conference in Hong Kong. Photo: VCG
Meituan-Dianping CEO Wang Xing (center) at IPO press conference in Hong Kong. Photo: VCG

Meituan-Dianping, a leading online, on-demand services provider and China’s largest group buying platform, Thursday priced its Hong Kong initial public offering (IPO) near the top of its target price range.

Priced at HK$69 ($8.79) a share, the offering will raise about $4.2 billion in one of this year’s biggest internet IPOs in Hong Kong. The estimated range was HK$62 to HK$70. If the offering’s underwriters exercise an overallotment option, the final fundraising figure could rise as high as $4.9 billion, people close to the offering told Caixin.

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