Alibaba-backed Babytree priced its shares at the foot of its range and will raise $217m at a valuation of $1.5bn, down from $2.2bn earlier this year.
Babytree, a China-based social parenting media and e-commerce platform backed by corporates Alibaba, Fosun and TAL Education, will raise $217m in its Hong Kong initial public offering, Reuters reported on Wednesday.
The company has priced its shares at HK$6.80 ($0.90), settling at the bottom of a range that had HK$8.80 at the other end. Babytree had hoped to secure up to $1bn at a valuation of $3bn to $5bn, but its valuation instead dipped to $1.5bn, from $2.2bn in…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
