Meitu seeks US$1b IPO in HK


MEITU, a selfie application developer and smartphone vendor, has applied for an initial public offering valued up to US$1 billion in the Hong Kong stock market.

The IPO is likely to be launched in the fourth quarter, the Wall Stree Journal reported yesterday, citing industry sources.

Meitu needs capital to expand globally and develop its smartphone business in the fiercely-competitive market.

Source:Shanghai Daily

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