PE-Backed Meituan Dianping Raises $4.2B In HK IPO

China’s Meituan Dianping, an online platform for ordering food and booking movies and restaurants, has raised US$4.2 billion from its initial public offering in Hong Kong, according to Reuters report citing insiders. Meituan Dianping sold about 480 million primary shares, or 8% of its enlarged share capital, at HK$69 (US$8.79), near the top end of its target range of HK$60 (US$7.65) and HK$72 (US$9.17) per share. The Beijing-based company will make its market debut on September 20. The listing will …

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