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Meituan-Dianping expected to file Hong Kong IPO in weeks

Meituan-Dianping, an emerging Chinese online platform for local life services, is expected to file an IPO application to list on the Hong Kong Stock Exchange as early as the end of this month, The Paper reported.

Aside from the IPO, which could raise about HK$47 billion, there is also specuation that the company will not rule out plans to issue CDRs on the A-share market.

According to unconfirmed sources, Wang Xing, founder and CEO of the company, met with the investment banking community in Hong Kong to discuss the listing at the end of May.

A spokesperson for the company, however, declined to comment on the market rumor.

By the end of 2017, Meituan-Dianping had 600 million users, and 53 million daily active users. In 2017, the GMV (total turnover) reached US$57 billion, a rise of 50% from a year earlier. The peak volume of orders in a day has exceeded 27 million.

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