Meituan mulls $6b IPO in Hong Kong

HONG KONG - Chinese mainland on-demand online consumer services platform Meituan plans to file for an initial public offering of about $6 billion in Hong Kong as soon as this month.

The firm is considering selling about 10 percent of its equity, the minimum required under Hong Kong exchange rules, to avoid dilution, said one of the people familiar with the matter.

The company is targeting a valuation of roughly $60 billion, the person said, although the valuation and fundraising target won't be in the initial filing documents. With the first filing in June, the actual listing of Meituan shares is likely around October.