Meitu debut less than flashy

The mainland's selfie app developer Meitu Inc made its debut on the Hong Kong Stock Exchange on Thursday, marking the biggest technology initial public offering in HK in nearly a decade.

Its opening price was HK$8.78 ($1.13), higher than the HK$8.50 initial offering price. It closed flat, at HK$8.5, with the intraday trading low at HK$8.33.

The listing raised $629 million, and Meitu now has a valuation of $4.6 billion.