Aya Lin · · 1 min readIn brief: China’s top movie ticket app delays IPO after Xiaomi backing
China’s top movie ticket app, Maoyan, has taken the unusual step of delaying its Hong Kong IPO after attracting three new cornerstone investors, including Xiaomi.
Its total five cornerstone investors will buy about US$30 million worth of shares in the IPO, up from the earlier plan for about US$18 million when the offering first launched last Friday.
Maoyan is seeking to raise as much as US$345 million.
Source: Bloomberg
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