Selfie-obsessed Meitu seeks IPO in Hong Kong for up to $1 billion
Meitu is more than just a misspelling of “Meizu“. With its smartphones and applications all about you, yourself and your selfie, you might be wondering if there’s a feasible market to keep it running?
Maybe. But it definitely wants a feasible market to head into. It has applied for an Initial Public Offering of shares on the Hong Kong stock exchange looking for a valuation from $500 million to $1 billion.
The location’s notable in that tech stocks take up only 10 percent of the market, a relatively low number compared with locales in mainland China and, of course, New York. Tencent, Lenovo and Alcatel parent company TCL are all listed in the former British colony. Meitu wants in on a market with more blue-chips than computer chips to take up more of the investor limelight.
Meitu is hoping to get its call numbers in the fourth quarter.
Source: The Wall Street Journal