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Meituan wants to help restaurants manage better with $4.4bn IPO

Food delivery unicorn will focus on the Chinese market as it expands role

Drivers of food delivery service Meituan are seen in Shanghai. The company expects the restructuring of its bike-sharing business to last through this year.   © Reuters

HONG KONG -- Meituan Dianping, the Chinese online platform known for food delivery services, aims to play a bigger role in serving the country's 8 million restaurants after it raises $4.4 billion in a stock listing to fund new businesses.

Meituan's upcoming initial public offering here could lift its valuation to as much as $55 billion, with an offer price range of 60 to 72 Hong Kong dollars. Shares begin trading on the Hong Kong Stock Exchange on Sept. 20.

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