Rumors on Meituan-Dianping’s $3 billion IPO in 2018 denied
Reuters reported on Tuesday that China’s Meituan-Dianping may hold an IPO in the US as soon as next year to raise at least $3 billion, only to be denied by Wang Xing, CEO of Meituan-Dianping.
China’s Meituan-Dianping, an online platform for ordering food and booking movies and restaurants, is considering an initial public offering in the United States as soon as next year, five people with knowledge of the matter told Reuters on Tuesday.
A listing could raise at least USD 3 billion as the company’s investors look to capitalize on the current market bull run, which has taken U.S. stocks to a series of all-time highs.
An IPO could take place as early as the first half of 2018, according to one of the people.
Wang Xing, CEO of Meituan-Dianping has denied media reports about the upcoming IPO in the US.
Led by serial entrepreneur Wang Xing, Meituan-Dianping’s backers include Tencent, Sequoia Capital Ltd, Singaporean state investors GIC Pte Ltd [GIC.UL] and Temasek, as well as DST Global and Canada Pension Plan Investment Board.
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