China’s SaaS developer Fortune Trend to raise $253m in STAR Market IPO

China’s SaaS developer Fortune Trend to raise $253m in STAR Market IPO

Shenzhen-headquartered securities industry software-as-a-service (SaaS) provider Fortune Trend Technology Co., Ltd, has said that its initial public offering has been oversubscribed as it seeks to raise an aggregate of 1.79 billion yuan ($253 million) on the Nasdaq-like STAR Market of the Shanghai Stock Exchange.