The company has set its price range at $7.64 to $9.17 and is aiming to raise a total of $1.5bn from five cornerstone investors, including the previously disclosed $400m from Tencent.
Meituan Dianping, a China-based local services platform backed by internet group Tencent, has set its price range at $7.64 to $9.17 for its initial public offering, Reuters reported on Friday.
The company is hoping to raise up to $4bn at a valuation of $46bn to $55bn. It is in discussions with five cornerstone investors to secure a total of $1.5bn – including $400m from Tencent revealed earlier last week and $100m from conglomerate China Chengtong Holdings.
The remaining three…
