Pinduoduo raises $1.6 billion in year's second-biggest Chinese IPO in U.S.: sources

Chinese online group discounter Pinduoduo Inc priced its U.S. initial public offering (IPO) at $19 per American depositary share (ADS), raising $1.63 billion in the second-biggest U.S. float by a Chinese firm this year, according to two people familiar with the situation.