China's Latest Tech IPO Raises $4.2 Billion

Chinese app company Meituan Dianping raised $4.2 billion in its IPO, while pricing its shares near the top of its target range, as suggested by a CNN report citing a person familiar with the matter.

Meituan ‘s app offers a range of services including lunch reservations, booking movie tickets and hailing car rides. The company’s IPO price of 69 Hong Kong dollars ($8.79) per share catapults its market value to $53 billion – which, although lower than its previously expected $60 billion, is still higher than the $30 billion valuation the startup received via private funding in October 2017.

What makes Meituan ‘s IPO stand out is that it has managed to garner a relatively successful price/market value amidst less-than-remarkable IPOs (such as those of smartphone-maker Xiaomi and electric-car company Nio)  and sell-offs of many Chinese tech stocks in recent times.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.

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