Meituan Is Said to Plan a $6 Billion IPO Filing This Month
- Company is said to consider selling about a 10% stake in IPO
- An IPO will be another sign of rising Chinese technology might
China’s restaurant review and delivery giant Meituan Dianping plans to file for an initial public offering of about $6 billion in Hong Kong as soon as this month, according to people familiar with the matter, the city’s second multibillion-dollar public listing by a tech startup this year.
The company is considering selling about 10 percent of the company, the minimum required under Hong Kong exchange rules, to avoid dilution, said one of the people, who asked not to be named because the matter is private. Meituan is targeting a valuation of roughly $60 billion, the person said, although the valuation and fundraising target won’t be in the initial filing documents. With the first filing in June, the actual listing of Meituan shares is likely around October, the people said.