Maoyan IPO catches Tencent-Alibaba rivalry on film

With its online ticketing business Maoyan Entertainment looking to raise $345 million from its IPO, Tencent is set to go head-to-head against Alibaba on the Hong Kong stock exchange.

Maoyan Entertainment is a key player in one of several proxy rivalries between Tencent and Alibaba but potentially the first to take place in the public market, now that the retail bookbuild for its HK$2.7 billion $345 million initial public offering is scheduled to kick off on Wednesday.

The Tencent-backed online movie ticketing service is looking to sell 132.4 million new shares at HK$14.8 to HK$20.4 each through its Hong Kong IPO, according to preliminary terms released by the company.

Tencent is Maoyan’s second-largest shareholder with a 16.3% direct stake, and is also a key shareholder in Meituan-Dianping, Maoyan’s...

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