Photo/Tuchong

Dec. 17 (NBD) -- Newborn Town Inc. on Tuesday initiated global offering and the Chinese app maker is expected to land at the Hong Kong Stock Exchange (HKEx) on December 31, this year under the stock code "9911".

Having CMBC Capital Holdings Ltd. (01141.HK) as the sole sponsor, and Huobi Group's investment arm Huobi Capital and e-commerce firm LC Elec as cornerstone investors, Newborn Town will offer a total of 136 million shares in the global offering, among which 10 percent will be offered for the Hong Kong public offering and the remaining 90 percent for the international offering.

The offer price will not be more than HKD1.8 (about 23 cents) per share and is expected to be not less than HKD1.4 each.

By the end of the first half of 2019, the software developer's Solo X product matrix, which is comprised of more than 70 apps such as music and fitness software as well as games, has attracted nearly 800 million global users from Asia, North America, Europe, South America, etc.

Email: lansuying@nbd.com.cn