Selfie App to End Drought of Large Hong Kong Tech IPOs: ChartBy
Hong Kong is about to welcome its biggest technology initial public offering in nearly a decade. Meitu Inc., a Chinese developer of selfie touch-up apps, started gauging demand this week for a $750 million share sale, which would be the largest tech listing in the city since Alibaba.com Ltd.’s $1.7 billion IPO in 2007. Meitu’s offering could become a test case for Chinese technology companies seeking to sell stock in Hong Kong, as government scrutiny of backdoor listings makes it tougher for businesses to raise funds in the domestic market.
For more on how Meitu’s talk of a $5 billion valuation is dividing Chinese investors and international money managers, click here.