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在线翻译:
szdaily -> Business -> 
Pinduoduo targets up to US$1.63b in US IPO
    2018-07-18  08:53    Shenzhen Daily

ONLINE group discounter Pinduoduo is planning to raise up to US$1.63 billion from a U.S. listing, its latest filing with the U.S. Securities and Exchange showed, in what will be one of the biggest U.S. float by Chinese firms in four years.

Pinduoduo, owned by Walnut Street Group, plans to sell about 85.6 million American Depositary Shares in its initial public offering (IPO) at a price range of US$16 to US$19 each, according to its filing, which was uploaded to the exchange website late Monday.

The company, backed by Chinese Internet giant Tencent Holdings, will price its IPO next Wednesday, said sources close to the transaction.

Pinduoduo expects to list on the NASDAQ under the symbol “PDD.”

The company is the latest in a series of tech groups flocking to list in New York or Hong Kong, seeking to replenish its coffers amid the fierce competition with domestic rivals, notably e-commerce giants Alibaba and JD.com, even as trade tensions between China and the United States rattle global markets.

Meituan Dianping, an online food delivery-to-ticketing services platform which rivals Alibaba-backed food delivery peer Ele.me, is also looking to launch its IPO of over US$4 billion in Hong Kong in coming months.

Loss-making Pinduoduo, set up by former Google engineer Colin Huang in 2015, also counts Sequoia Capital China as a major investor.

In an initial filing, the company, which allows consumers to group together to increase the discounts offered by merchants, claimed 103 million active users of its mobile platform as of the end of March.

The Shanghai-based firm was valued at US$15 billion in an April fundraising round and was looking to double that, Thomson Reuters publication IFR has reported.(SD-Agencies)

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