The Foxconn and Sina Weibo-backed company, which develops apps that let users edit photos, is targeting up to $1bn in an offering on the Hong Kong stock exchange.
Meitu, a China-based photography app producer backed by contract manufacturer Foxconn Technology Group, hopes to raise between $500m and $1bn in a flotation in Hong Kong, the Wall Street Journal reported yesterday.
The offering, expected to take place in the fourth quarter of 2016, will also provide exits to social network Sina Weibo, Tiger Global Management, Qiming Venture Partners, Innovation Works and IDG Capital Partners, the local investment affiliate of media company International Data Group.
Meitu is aiming for a valuation…
