TPG, Orchid-backed Duiba raises $96.7m in HK IPO

REUTERS/Bobby Yip/File Photo

Duiba, a Chinese enterprises solution provider backed by private equity firms TPG and Orchid Asia Group, raised HK$766.2 million ($97.6 million) by selling 127.7 million shares at HK6 apiece in its initial public offering (IPO) in Hong Kong.

The startup, founded in 2014, said the pricing represents the bottom end of the indicative range but the size of the offering was 16.7 million shares above its original plan of selling 111 million shares.

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