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China's Meituan Is Said to Plan $6 Billion IPO Filing This Month
12-06-2018, 06:51 PM,
Post: #1
China's Meituan Is Said to Plan $6 Billion IPO Filing This Month
China's Meituan Is Said to Plan $6 Billion IPO Filing This Month

By Lulu Yilun Chen , Eric Newcomer , and Crystal Tse
June 12, 2018, 5:30 PM GMT+8

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. The company 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.

Meituan is also considered a prime candidate to sell shares in mainland China as part of the government’s program to give more opportunities to domestic investors. It’s not clear yet when the sale of Chinese depository receipts would take place. Meituan declined to comment on a potential IPO and said that if it has specific fundraising plans it will announce them at the appropriate time.

More details in https://www.bloomberg.com/news/articles/...this-month
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