Tencent and Xiaomi-backed news aggregation platform Qutoutiao floated at the foot of its range, in an IPO in which JD.com invested about $14m.
Qutoutiao, a China-based news aggregation platform backed by internet company Tencent and smartphone producer Xiaomi, has gone public in an $84m initial public offering on the Nasdaq Global Market.
The company issued 12 million American Depositary Shares (ADSs), representing 3 million ordinary shares, priced at $7 each, at the foot of the IPO’s $7 to $9 range. An unnamed affiliate of e-commerce group JD.com bought approximately 2 million ADSs in the offering.
Founded in 2016, Qutoutiao has created an…
