Chinese mobile developer Meitu Inc. started testing demand for a proposed Hong Kong initial public offering of about $750 million, which could become the city’s biggest technology listing in nearly a decade. The Xiamen-based company, which makes apps used to touch up selfie photos, will gauge interest from potential investors from Monday through Dec. 2, according to terms for the deal obtained by Bloomberg. Meitu plans to use about 35% of the IPO proceeds to expand its smart hardware business, while around 25% will go toward strategic investments and acquisitions. Meitu hasn’t set a target listing date or decided when it will begin taking orders for the share sale, the terms show. The stock offering could become a test case for Chinese technology companies seeking to list in Hong Kong.
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