BABYTREE Group, a Chinese parenting website backed by Alibaba Group Holding Ltd. and Fosun International Ltd., is seeking as much as US$282 million in a Hong Kong initial public offering (IPO).

The Beijing-based company is offering 250.3 million shares at HK$6.80 (87 U.S. cents) to HK$8.80 apiece, according to terms for the deal.

The deal, which is expected to price Nov. 20, includes an anti-dilution option allowing Alibaba’s Taobao China Holding Ltd. to buy additional shares at the offer price, the terms show.

The e-commerce platform is taking investor orders amid a softening stock market in Hong Kong, where the benchmark Hang Seng Index is down about 22 percent from its January all-time high.

Travel website Tongcheng-Elong Holdings Ltd. started a roadshow Tuesday for an IPO of as much as US$232 million after earlier considering a fundraising target of US$800 million to US$1 billion, people familiar with the matter have said.

Babytree’s monthly active users almost halved to 89.5 million in the six months ended June 30, compared with 177.2 million a year ago, Bloomberg reported in September.

Taobao China has the option to subscribe to as many as 24.8 million shares in the offering. Babytree is expected to begin trading Nov. 27. (SD-Agencies)