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The Wall Street Journal: China’s Meitu plans $1 billion Hong Kong IPO

HONG KONG — One of China’s most popular “selfie” app makers is preparing to raise up to $1 billion through a listing on the Hong Kong exchange, in a test of whether that market can compete with New York and mainland China for a wave of expected Chinese startup offerings.

The app maker, Meitu Inc., filed an application with Hong Kong regulators on Friday for an initial public offering that could raise $500 million to $1 billion, and is expected in the fourth quarter, according to people familiar with the situation. A successful IPO could strengthen Hong Kong’s hand as it tries to persuade Chinese startups such as $46 billion phone-maker Xiaomi Corp.

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