The photo modification app developer raised $629m in an initial public offering that provided Sina Weibo, Foxconn and IDG Capital Partners with exits.
China-based photo retouching app developer Meitu has raised HK$4.88bn ($629m) in an initial public offering in Hong Kong that gave an exit to corporate investors including Sina Weibo and Foxconn.
Meitu issued 574 million shares priced at HK$8.50 each, at the low end of its HK$8.50- HK$9.60 range. It initially set a $1bn target when it filed for the offering in August this year.
Founded in 2008, Meitu offers an app that enables users to easily retouch, edit and add…
