Movie-ticketing app Maoyan raises $250M in IPO

Movie-ticketing app Maoyan raises $250M in IPO
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China’s largest film-ticketing app Maoyan made a lacklustre debut on Hong Kong’s stock exchange on Monday, shedding one-point-four-percent. Only a week ago, the Tencent-backed firm, had shored up its share offering, by drawing five additional cornerstone investors including Imax China as well as smartphone maker Xiao-mi. And it could signal further declines, in appetite for Chinese tech companies. Patrick Fok reports.

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