Alibaba-backed Babytree priced its shares at the foot of its range and will raise $217m at a valuation of $1.5bn, down from $2.2bn earlier this year.

Babytree, a China-based social parenting media and e-commerce platform backed by corporates Alibaba, Fosun and TAL Education, will raise $217m in its Hong Kong initial public offering, Reuters reported on Wednesday. The company has priced its shares at HK$6.80 ($0.90), settling at the bottom of a range that had HK$8.80 at the other end. Babytree…

The rest of this content is only accessible to Global Corporate Venturing Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.