Deals
Meituan Dianping Is Said to Draw Tencent to $4 Billion-Plus IPO
- Tencent planning to invest about $400 million as cornerstone
- Meituan starts gauging investor demand for Hong Kong offering
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Meituan Dianping, the Chinese restaurant review and delivery giant, has started gauging investor demand for a planned Hong Kong initial public offering, people with knowledge of the matter said.
A stock offering from the company could raise more than $4 billion, said one of the people, who asked not to be identified because the details are private. Chinese social media giant Tencent Holdings Ltd., which already owns about a fifth of Meituan, plans to buy about $400 million of stock in the IPO as a cornerstone investor, according to different people familiar with the matter.