BEIJING (dpa-AFX) - China-based internet start-up Meituan Dianping expects to price its shares at HK$60 to HK$72, or US$7.64 to US$9.17, that could value the company at close to $55 billion.
The Beijing-based online-services company is set to launch its initial public offering in Hong Kong this week. Meituan could raise as much as US$4 billion before the exercise of over-allotment option.
The company expects its IPO to give a valuation of US$46 billion to US$55 billion and is planning to secure a total of US$1.5 billion from five cornerstone investors, including its main backer Tencent Holdings Ltd, and global asset manager OppenheimerFunds, South China Morning Post reports.
Oppenheimer will commit US$500 million and Tencent US$400 million, the report says.
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