By Mars Woo
CooTek’s major shareholders include Qiming Funds (18.2 per cent), Sequoia (17.9 per cent), and SIG China (14.2 per cent).
The funding round values WayRay at $500 million. It aims to become a unicorn by the end of 2019.
A deal could value the business at about $1 billion.
In a December press release, Mobike claimed 200 million users worldwide. Meituan’s prospectus says otherwise – 48.1 million Active Bike Users, 7.1 million Active Bikes and over 1 billion rides completed in the four months ended April 30, 2018.
Five IPOs have helped at least 16 tech bigwigs ring up a combined $48 billion of net worth at the time of the listings.
Global private equity H.I.G. Capital has named Ken Park as Hong Kong-based Principal while US asset manager Capital Group has appointed Henry Chan as senior executive in Hong Kong.
The Beijing-based developer will resubmit a listing application once there is sign of easing
This spells the latest blow to HNA Group which lately has done a series of divestments to slash debt at the aviation-to-financial services group.
Meituan’s performance is being seen as a test of investor appetite for Hong Kong listings against a backdrop of weak markets and previous multi-billion dollar IPOs that have struggled to hold above their issue price.
His exit comes at a time when Tencent is reeling from a Chinese crackdown on online gaming