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Skadden-Led Meituan Debuts After $4.2B Hong Kong IPO

Law360 (September 20, 2018, 6:36 PM EDT) -- Chinese online services platform Meituan Dianping’s shares rose in debut trading Thursday following completion of the company’s $4.2 billion initial public offering in Hong Kong — marking the fifth largest IPO in 2018 — advised by Skadden Arps Slate Meagher & Flom LLP.

Beijing-based Meituan’s shares closed at HK$72.65 ($9.26) in the first day of trading on the Hong Kong Stock Exchange. The debut comes after Meituan on Wednesday announced the final terms of its IPO, which offered 480.3 million shares at HK$69 ($8.80), raising $4.2 billion.

Meituan said its platform provides “a one-stop shop” for services ranging from on-demand food...

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