Markets 

Kuaishou Seeks to Raise Up to $5.4 Billion in Hong Kong IPO

In this article

Kuaishou Technology, the main rival toByteDance Ltd. in China, is seeking to raise as much as $5.4 billion in Hong Kong in what would be one of Asia’s biggest initial public offerings this year.

The short video startup, backed byTencent Holdings Ltd., is selling 365 million shares at HK$105 to HK$115 each, according to terms of the deal obtained by Bloomberg News. The company will start taking investor orders from Monday through Jan. 29 and is slated to list on Feb. 5.














  • Kuaishou has attracted 10 cornerstone investors for its offering, who agreed to subscribe for $2.45 billion of stock, based on mid-point of the marketed range. The lineup includes BlackRock Inc. and Abu Dhabi Investment Authority, the terms show, confirming an earlier Bloomberg Newsreport. Cornerstone buyers typically agree to hold stock for a set period of time in exchange for early, guaranteed allocation.

    Morgan Stanley, Bank of America Corp. and China Renaissance Holdings Ltd. are joint sponsors of the deal.

    Source: Read Full Article

    • You May Also Like

    Indian shares end lower on losses in financials; Fed in focus

    UPDATE 2-Euronext seals Borsa Italiana takeover with capital hike

    Stocks tread water as gold, oil declines spook sentiment