The Tencent-backed local services portal has priced the offering near the top of its range at a valuation of about $52bn.
China-based local services platform Meituan Dianping has raised $4.22bn in an initial public offering that included a $400m investment by internet group Tencent, Reuters reported today, citing people close to the deal.
Meituan Dianping issued 480 million primary shares on the Hong Kong Stock Exchange priced at HK$69 ($8.79) each, near the top of the IPO’s HK$60 to HK$72 range. The offering values the company at about $52bn, according to the sources.
Established through the 2015 merger of…
