Meituan said it would maintain its mutually beneficial business relationship with Tencent after the divestment, which comes as the Shenzhen-based tech giant shuts some unprofitable businesses
Meitu plans to offer shares at between 8.5 Hong Kong dollars and 9.6 Hong Kong dollars, raising $629 million to $710 million
It is looking to raise up to $1 billion in a listing on the Hong Kong exchange at a valuation of around $5 billion, reports Tech in Asia