The Tencent-backed local services portal has priced the offering near the top of its range at a valuation of about $52bn.

China-based local services platform Meituan Dianping has raised $4.22bn in an initial public offering that included a $400m investment by internet group Tencent, Reuters reported yesterday, citing people close to the deal.┬áThe GIC-backed local services portal has priced the offering near the top of its range at a valuation of about $52bn. Meituan Dianping issued…

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