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Maoyan to Raise USD345m through HK IPO
4.38
13 ratings

Written by Fay Chu

Published at 2019-01-18 08:46

Maoyan Entertainment, a Chinese online movie ticketing platform, plans to raise USD345m through Hong Kong IPO, as reported by Bloomberg on January 18. The company will start trading shares since January 31, with 132.4m shares priced ranging from HKD14.8 to HKD20.4. According to Bloomberg, Morgan Stanley [MS:US] and Bank of America [BAC:US] jointly sponsored the listing. Welight Capital and an affiliate of IMAX China Holding [1970:HK] have already contributed a total of USD18m investment prior to the IPO, becoming Maoyan's cornerstone investors. Maoyan will use 90% of the total proceeds equally on investments, R&D activities and platform reinforcement, while the rest 10% will increase its working capital.