BRIEF-Pinduoduo Inc Sees IPO Of 85.6 Million American Depositary Shares
July 16 (Reuters) - Tencent Holdings Ltd:
* PINDUODUO INC SEES IPO OF 85.6 MILLION AMERICAN DEPOSITARY SHARES PRICED TO BE BETWEEN $16.00 AND $19.00 - SEC FILING
* PINDUODUO INC SAYS IT ADDS CHINA RENAISSANCE TO THE UNDERWRITERS TO THE U.S. IPO
* PINDUODUO INC SAYS INTENDS TO USE ABOUT $580.0 MILLION OF IPO PROCEEDS TO ENHANCE AND EXPAND BUSINESS OPERATIONS
* PINDUODUO INC - INTENDS TO USE ABOUT $580 MILLION OF IPO PROCEEDS FOR RESEARCH AND DEVELOPMENT, TO CONTINUE TO INVEST IN AND DEVELOP TECHNOLOGY INFRASTRUCTURE
* PINDUODUO SAYS TENCENT HOLDINGS LTD HAVE INDICATED INTEREST IN PURCHASING UP TO $250 MILLION OF THE ADSS REPRESENTING CLASS A ORDINARY SHARES IN THE OFFERING
* PINDUODUO - FOLLOWING IPO, CEO TO OWN ALL ISSUED CLASS B ORDINARY SHARES, REPRESENTING 89.80% TOTAL VOTING POWER IF UNDERWRITERS DON'T EXERCISE OVER-ALLOTMENT OPTION Source text : (https://bit.ly/2L39gUF) Further company coverage: