Deals
Top China Movie Ticket App Flips IPO Script With Xiaomi Backing
- Maoyan Entertainment extends listing timetable in rare move
- Startup attracted three new cornerstone investors over weekend
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Maoyan Entertainment, the Chinese online movie ticketing platform that launched its initial public offering last week, is giving investors more time to decide on its merits now that it’s attracted Xiaomi Corp. to the deal.
China’s top ticket app has taken the unusual step of extending bookbuilding for its Hong Kong IPO after adding three more cornerstone investors, including Xiaomi. Maoyan now expects to stop staking orders from institutional money managers around Jan. 25, a day later than initially planned, according to terms for the deal obtained by Bloomberg.