China’s Meituan-Dianping has cleared pre-listing hearings ahead of an initial public offering with the online services platform set to go public on September 20, according to industry insiders.
Beijing-based Meituan is yet to reveal financing targets though sources value the firm at USD50 billion to USD55 billion post-floatation with at least USD4 billion raised, making it the third biggest IPO in the special administrative region this year.
Meituan will start a global roadshow early next month before setting an offering price on September 13. Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley will act as cosponsors and the firm may unveil cornerstone investors over the next week.
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