MAOYAN Entertainment, the Chinese online movie ticketing platform that launched its initial public offering (IPO) last week, is giving investors more time to decide on its merits now that it’s attracted Xiaomi Corp. to the deal.

Maoyan, China’s top ticket app, has taken the unusual step of extending bookbuilding for its Hong Kong IPO after adding three more cornerstone investors, including Xiaomi.

Maoyan now expects to stop staking orders from institutional money managers around Monday next week, a day later than initially planned, according to terms for the deal.

Maoyan is seeking to raise as much as US$345 million. Five cornerstone investors will buy about US$30 million in shares in the deal, up from the earlier plan to sell about US$18 million in stock when the offering first launched Friday.

Xiaomi agreed to purchase US$2.6 million in shares, while an affiliate of Shanghai-listed Hylink Digital Solution Co. committed US$5 million, the updated terms show. Prestige of the Sun plans to invest US$4.4 million.

When the IPO launched Friday, only IMAX China Holding Inc. and Welight Capital had signed on as cornerstones.

Maoyan now aims to price the offering around Jan. 28 and tentatively expects to start trading Feb. 4, both two business days later that the initial plan. (SD-Agencies)