Jul

Tencent-Backed PDD Is Said to Price $1.6 Billion U.S. IPO at Top

Chinese e-commerce company Pinduoduo Inc. has raised $1.6 billion after pricing its U.S. initial public offering at the top end of a marketed range, according to a person with knowledge of the matter.

The Shanghai-based shopping platform backed by Tencent Holdings Ltd.has priced 85.6 million American depositary shares at $19 each, said the person, who asked not to be identified because the details are private. The shares were marketed at $16 to $19 each, according to a regulatory filing…

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Tencent-Backed PDD Is Said to Price $1.6 Billion U.S. IPO at Top

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