Alibaba-backed Momo raises $216m in IPO

Chinese social networking company priced its shares in the middle of its indicative range, despite allegations of misconduct against its CEO.

Momo Technology, the Chinese social networking website, raised $216 million from its Nasdaq initial public offering on Thursday, shrugging off news that its head faced allegations of misconduct from a former employer.

¬ Haymarket Media Limited. All rights reserved.

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