Business
Alibaba-Backed Qiniu Mounts Third Attempt for Hong Kong IPO as Midea Boosts Market Confidence
Qiniu, a Chinese cloud service firm supported by Alibaba, is making another attempt for an initial public offering in Hong Kong, this being their third effort. This comes after Midea helped to lift the mood.
The company from Shanghai presented a fresh IPO application on Sunday, following the expiration of its previous submission earlier this month. Their initial effort in June of the previous year similarly failed to materialize.
Qiniu intends to release as many as 234.7 million shares in Hong Kong, following the authorization it obtained from the China Securities Regulatory Commission in June. The firm has not revealed a specific goal for the funds to be raised.
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