PE-backed BabyTree raises $217m in Hong Kong IPO
BabyTree, a Chinese parent-focused social networking platform that engaged in a corporate restructuring intended to facilitate an onshore listing but then 12 months later decided to go public in Hong Kong, has raised HK$1.7 billion ($217.3 million) in its IPO.
The company, which has various financial and strategic backers, including Alibaba Group’s Taobao unit, sold 250.3 million shares – excluding the overallotment option – for HK$6.80 apiece, according...
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