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M17, formed by merger of Taiwan’s 17 Media and Singapore’s Paktor, was hoping to raise $60m through its IPO on NYSE.
Jiangxi Bank expects to price the offering around June 19 and start trading June 26.
Meituan was most recently valued at $30 billion, making it the world’s fourth most valuable startup, according to CB Insights.
Xiaomi Corp. deserves to trade at a premium to global phone brands due to its market-share gains and faster growth trajectory, according to research from Morgan Stanley, one of banks leading its Hong Kong IPO.
The firm, which is a sister company of CVC Capital-backed generic drugmaker Alvogen, is considering a Hong Kong listing as soon as next year.
NIO plans to take investor orders for the offering as soon as this summer or early autumn.
Xiaomi, led by serial entrepreneur Lei Jun, is one of the most anticipated deals in what’s expected to be a banner year for Hong Kong IPOs. The listing, which could become the world’s biggest first-time share sale since 2014, is expected to mint dozens of new millionaires from the early employees who bought stock in Xiaomi.
Hong Kong now accepts applications from firms with different share classes as well as from unprofitable biotech businesses, a revision intended to attract earlier-stage developers like Stealth.
While some deals in Singapore are struggling to get done, investors have been piling into equity offerings in nearby Vietnam.
Seven cornerstone investors agreed to buy about $550 million of stock