Alibaba-backed Babytree slashes Hong Kong IPO size, seeks up to $281m

Alibaba-backed Babytree slashes Hong Kong IPO size, seeks up to $281m

Babytree founder and CEO Allen Wang

Alibaba-backed online parenting firm Babytree Group launched a Hong Kong IPO of up to $281 million on Wednesday, far below what the Chinese company had hoped to raise, as weak markets force firms to scale back their funding ambitions.

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