In brief: China’s top movie ticketing app close to $345m IPO

Maoyan Entertainment, China’s biggest online movie ticketing platform, is seeking to raise as much as US$345 million in a Hong Kong initial public offering.

The company is offering 132.4 million shares at HK$14.80 to HK$20.40 apiece, according to terms for the deal obtained by Bloomberg.

Source: Bloomberg

With 61 percent of China’s online cinema ticket market, according to independent data, Maoyan beat Alibaba to carve out this lucrative niche.

The IPO is expected to kick off January 31.