China's Meituan shares surge to highest since IPO after surprise profit

China's Meituan shares surge to highest since IPO after surprise profit

Menu icons are displayed on the Meituan application on an Apple Inc. iPhone in an arranged photograph taken in Hong Kong, China, on Thursday, Sept. 6, 2018. Photographer: Paul Yeung/Bloomberg

Shares in Meituan Dianping surged the most in five months, hitting the highest price since its initial public offering after the Chinese internet giant posted its first quarterly profit last week.

Bring stories like this into your inbox every day.

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