Tencent-backed Pinduoduo soars in US trading debut after raising $1.6b

Tencent-backed Pinduoduo soars in US trading debut after raising $1.6b

Pinduoduo founder Colin Huang. Photographer: Qilai Shen/Bloomberg

Chinese e-commerce operator Pinduoduo Inc rose as much as 44 percent on its first day of trading in New York after selling raising $1.6 billion in the fourth-largest U.S. initial public offering this year.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter