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Stock impact report

China's Meituan Dianping said to set Hong Kong IPO valuation at up to $55 billion [CNBC]

Yelp Inc. (YELP) 
Last yelp inc. earnings: 2/13 04:05 pm Check Earnings Report
US:NYSE Investor Relations: yelp-ir.com/investor-overview
Company Research Source: CNBC
China's Meituan Dianping, an online food delivery-to-ticketing services platform, has set an indicative price range of HK$60 to HK$72 ($7.64-$9.17) per share for its initial public offering (IPO) in Hong Kong , valuing itself at up to $55 billion, four people with direct knowledge of the matter said. Meituan, already one of China's most valuable internet firms, could raise as much as $4 billion before the exercise of a greenshoe or over-allotment option, whereby additional shares are sold depending on demand. The company is discussing a valuation of $46 billion to $55 billion and planning to secure a total of $1.5 billion from five cornerstone investors, including its main backer gaming and social media company Tencent Holdings , and global asset manager OppenheimerFunds, the people said. Oppenheimer will commit $500 million and Tencent $400 million, they said. Other cornerstone investors include U.K.-based hedge fund Lansdowne Partners ($300 million), U.S Show less Read more
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