PE-backed China Literature raises $1.1b in HK IPO
China Literature, a PE-backed online reading unit being spun out by Tencent Holdings, has raised HK$8.3 billion ($1.1 billion) in a Hong Kong IPO.
China Literature sold 151.4 million shares at HK$55 apiece, the top of its marketed price range. The stock soared 90% on Tuesday morning, the first day of trading. China Literature, which is 52.7% owned...
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