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Tencent-backed Meituan raises $4.2 billion in IPO priced near range top: sources

Reuters 

By Fiona Lau and Julie ZhuHONG KONG (Reuters/IFR) - Chinese online food delivery-to-ticketing services firm Meituan Dianping raised $4.2 billion in the world's biggest internet-focused IPO in four years as it priced the float near the top end of a marketed range, people close to the deal said.Meituan, backed by Chinese social media and gaming firm Tencent Holdings, sold about 480 million primary shares at HK$69 ($8.79) each in the Hong Kong IPO, valuing the company at around $52.8 billion, the sources said on Thursday.The proceeds will help Meituan fortify itself against stiff competition ...

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First Published: Thu, September 13 2018. 12:19 IST
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