Chinese movie ticketing platform Maoyan Entertainment, unit of Shanghai Enlight Investment Holdings, has priced its stock market listing in Hong Kong to raise $250 million.

Maoyan priced its initial public offering between an indicative range of $1.89 to $2.60 per share. Maoyan had initially been looking to raise $500 million to $1 billion in its IPO.

The company said that the pricing gives it a valuation of approximately $2.97 billion.

Maoyan has raised a total of $671.4 million in funding over three rounds.