China’s QingCi Games Seeks $153 Million in Hong Kong IPO

What’s new: Alibaba and Tencent-backed mobile game developer QingCi Games Inc. is seeking as much as HK$1.19 billion ($153 million) in a Hong Kong initial public offering (IPO).

The Xiamen-based company plans to sell 85 million shares for HK$11.20–14 each, according to the prospectus. The company said 10% of the shares will be sold in Hong Kong and 90% globally. The subscription will end Thursday, and the stock is expected to debut a week later.