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Chinese Shopping Platform Pinduoduo Prices US IPO at Top of Range

As we settle into the new year, our Sourcing Summit Companion Report looks ahead at ways to optimize processes and performance.

Chinese e-commerce company Pinduoduo Inc. has raised $1.6 billion after pricing its U.S. initial public offering at the top end of a marketed range, according to a person with knowledge of the matter. The Shanghai-based shopping platform backed by Tencent Holdings Ltd. has priced 85.6 million American depositary shares at $19 each, said the person,…

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