Tencent-backed video sharing app Kuaishou kicks off Hong Kong IPO targeting US$5 billion

//Tencent-backed video sharing app Kuaishou kicks off Hong Kong IPO targeting US$5 billion

Tencent-backed video sharing app Kuaishou kicks off Hong Kong IPO targeting US$5 billion

Kuaishou Technology, the short-video platform backed by Tencent, will offer its shares at a maximum price of HK$93 each, as it aims to raise up to HK$38.6 billion (US$5 billion) in Hong Kong’s biggest initial public offering for 14 months.The upcoming sale could value Beijing-based Kuaishou at above US$50 billion, bigger than its competitor Bilibili’s US$44 billion capitalisation and iQiyi at US$16.6 billion. It would be Hong Kong’s second-largest flotation, after Alibaba Group Holding’s US$13…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2021-01-21T12:26:58+00:00 January 21st, 2021|Technology|Comments Off on Tencent-backed video sharing app Kuaishou kicks off Hong Kong IPO targeting US$5 billion