China's Meituan Dianping sets HK IPO valuation at up to $55 billion: sources

SINGAPORE/HONG KONG (Reuters/IFR) – China’s Meituan Dianping, an online food delivery-to-ticketing services platform, has set an indicative price range of HK$60 to HK$72 per share for its initial public offering (IPO) in Hong Kong, valuing itself at up to $55 billion, three people with direct knowledge of the matter said.

Visitors look at a Meituan Autonomous Delivery (MAD) vehicle of Chinese food delivery platform Meituan-Dianping, at the first Smart China Expo in Chongqing, China August 23, 2018. Picture taken August 23, 2018. REUTERS/Stringer

Meituan Dianping, already one of China’s most valuable internet firms, is discussing a valuation of $45.5 billion to $54.7 billion with potential cornerstone investors for its float, said the people.

Meituan Dainping did not immediately respond to a request for comment outside regular business hours.

Reporting by Julie Zhu in Singapore, and FIONA LAU of IFR in Hong Kong; Writing by Anshuman Daga; Editing by Susan Fenton

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