Tencent-Backed Personalized News App Qutoutiao’s IPO Downsized To $86M


Chinese content aggregator Qutoutiao Inc, which is backed by the country’s technology giant Tencent Holdings Ltd, is seeking to raise US$84 million in an initial public offering (IPO) in the U.S., much less than the US$300 million the company initially planned to raise. The company offered the pricing of its IPO of 12 million American Depositary Shares (ADSs) at US$7 apiece, the bottom of the projected US$7 to US$9 price range. The pricing put the company’s market value at US$2.1 billion, said Chinese …

Tencent-Backed Personalized News App Qutoutiao’s IPO Downsized To $86M appeared first on China Money Network.


Print Print | Email Email | Category: China News

Sorry, comments are closed at this time.