BitAuto's e-commerce and financing spinout, which counts Tencent, Baidu and JD.com as investors, floated at the top of its range.
Yixin Group, the China-based e-commerce marketplace operator spun out of automotive transaction services provider BitAuto, raised HK$6.77bn ($867m) in its initial public offering yesterday.
The company issued almost 879 million shares on the Hong Kong Stock Exchange priced at the top of the IPO’s HK$6.60 to HK$7.70 range. Its stock opened at HK$10.00 yesterday and briefly reached HK$10.18 before closing at HK$8.12, giving it a market cap of about $6.54bn.
Yixin runs an online platform that functions as a…
