Selfie app Meitu gauges interest in $750m IPO

Chinese mainland mobile developer Meitu Inc said it started testing demand for a proposed Hong Kong initial public offering worth about $750 million, which could be 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 offering obtained by Bloomberg. Meitu plans to use about 35 percent of the IPO proceeds to expand its smart hardware business, while around 25 percent 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.