Alibaba-backed Babytree said to scrape bottom of the barrel with Hong Kong IPO

Alibaba-backed Babytree said to scrape bottom of the barrel with Hong Kong IPO

FILE PHOTO: The company logo of BabyTree Group is displayed at a news conference ahead of its IPO in Hong Kong, China November 14, 2018. REUTERS/Bobby Yip

China’s Babytree Group, a parenting website operator, has priced its Hong Kong IPO at the bottom of a marketing range, people close to the deal said, reducing its valuation and implying a ‘down round’ for investor Alibaba Group Holding Ltd.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter