VC-backed China photo app provider raises $629m in Hong Kong IPO
Meitu, a Chinese photo and community app provider driven by the selfie phenomenon, raised HK$4.88 billion ($629 million) in its Hong Kong IPO, securing liquidity events for several venture capital investors.
The company sold 574 million shares at HK$8.50 apiece, the bottom of the indicative range, according to a filing. None of the existing institutional backers sold any shares in the offering. IDG Capital...
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