Chinese e-commerce site Pinduoduo targets up to $1.63b in US IPO

Chinese e-commerce site Pinduoduo targets up to $1.63b in US IPO

Colin Huang, chief executive officer and founder of Pingduoduo.com, poses for a photograph at the company's new office in Shanghai, China, on Friday, Feb. 24, 2017. Photographer: Qilai Shen/Bloomberg

Chinese online group discounter Pinduoduo is planning to raise up to $1.63 billion from a U.S. listing, its latest filing with the U.S. Securities and Exchange showed, in what will be one of the biggest U.S. floats by Chinese firms in four years.

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