The IPO comprises about 280 million Class B shares. At the midpoint, without over-allotment, net proceeds are expected to reach HK$13.1 billion. According to its prospectus, the company has earmarked 40 percent for technology capabilities, 40 percent for brand building and global expansion, 10 percent for corporate responsibility and the balance for general purposes.

　　lijiaying@chinadaily.com.cn