Meituan-Dianping targets $4.4b IPO, promises domestic focus
Meituan-Dianping, China’s leading online-to-offline (O2O) lifestyle services platform, is looking to raise up to HK$34.6 billion ($4.4 billion) in its Hong Kong IPO, while emphasizing that it will focus on its core domestic business rather than pushing aggressively into new geographies and verticals.
The company will sell approximately 480.3 million shares at HK$60-72 apiece, according to a filing, which would give the business a maximum value of around HK$395 billion. Five cornerstone investors –...
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