Hong Kong Stock Exchange

China’s food delivery and restaurant review major Meituan-Dianping said it aims to raise up to $4.4 billion (roughly Rs. 31,400 crores) for its initial public offering (IPO) in Hong Kong. Instead of a not-so-effective response to other recent IPOs in the city, the company is planning to go public. With the IPO, Meituan will offer 480.27 million new shares at a range of HK$60 ($7.64) to HK$72 apiece. The company stated that they are making losses and also said that it could not guarantee profitability in future despite of having hundreds of millions of users on its platform. Talking about the company, Meituan.com was founded in 2010 by CEO Wang Xing and was merged with comment-rating platform Dianping Holdings in 2015. The company has been backed by internet giant Tencent and provi...

China’s largest online movie ticketing service Maoyan Weiying reportedly filed for an initial public offering (IPO) on the Hong Kong stock exchange. The Tencent-backed company, however, has yet not disclosed that when the IPO will be or other valuation details. But, according to the earlier reports of this year, Maoyan aims to raise up to $1 billion. This move has come soon after another Tencent investment, Meituan-Dianping, is preparing for its own debut (Meituan is also one of Maoyan’s investors). Both Meituan and Maoyan are an important part of Tencent’s online-to-offline services rivalry with Alibaba. Meituan holds the number one market share for online services in China in terms of market volume. Similarly, Maoyan is the largest online movie ticketing app service in China. It...

Tag: Hong Kong Stock Exchange

Meituan-Dianping Aims to Raise $4.4 billion from IPO

China’s Maoyan Weiying to File an IPO on the Hong Kong Stock Exchange