Meituan Dianping (Meituan), China's leading e-commerce platform for local lifestyle services updated its IPO prospectus previously filed with Hong Kong Exchanges this month. It plans to issue 480 million shares each priced between HK$60 and HK$72 with a value of at best 34.6 billion yuan (US$5.06 bn) and set to go public on September 20, 2018, according to Sina Finance.
Meituan has developed into an all-rounded company providing a wide selection of daily-life services to consumers, such as food delivery, reviews, hotel & travel services, transportation, new initiatives and other, which was just a simply group-buying website eight years ago.
For the last twelve months ended April 30, 2018, Meituan had 340 million annual transacting users, 4.7 million annual active merchants across over 2,800 cities and counties in China, 411 billion yuan (US$64.88 bn) annual GMV, and 6.9 billion annual transactions. Moreover, 235 million domestic hotel room nights were booked through it.
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