Chinese food delivery and online services company Meituan-Dianping has filed a draft prospectus to the Hong Kong stock exchange, the first preview into what will likely be one of the year’s largest public offerings.
The group’s investors are aiming for a valuation of around $60bn, according to two people familiar with the matter. However, that would be double of what it was worth last October, after a $4bn funding round led by Tencent placed it at a total valuation of around $30bn.
Despite its popularity in China, Meituan-Dianping remains loss-making, with pre-tax net losses more than tripling from Rmb5.8bn ($890m) in 2016 to Rmb19bn ($2.92bn) last year.
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