Chinese AI-based app developer Newborn Town files for Hong Kong IPO

REUTERS/Bobby Yip

China’s AI-driven mobile app developer and advertising platform Newborn Town has announced that it plans to raise up to HK$245 million ($31 million) in its initial public offering in Hong Kong, per its filing with the Hong Kong Exchange (HKEx). 

The company intends to offer a total of 136 million shares at a price range of HK$1.4 to HK$1.8 apiece. Newborn Town has refiled for Hong Kong IPO after first launched it earlier in July this year. Newborn Town is targeting to make its listing debut by the end of December. 

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