Tencent-Backed Maoyan Entertainment Raises $250M In Downsized HK IPO

Maoyan Entertainment, China’s largest movie ticketing app backed the country’s tech giant Tencent, has raised about US$250 million in a downsized stock debut on Monday, shrinking from its initial target of US$345 million amid weak starts among Chinese tech firms floating shares in Hong Kong.

China Money Network

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