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Kuaishou Technology All Set to Raise $5.4 Billion in IPO

The company intends to use the proceeds to expand R&D and fund growth

The Global Economics by The Global Economics
January 25, 2021
in Finance, Trending
Reading Time: 1 min read
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Kuaishou Technology All Set to Raise $5.4 Billion in IPO

Kuaishou Technology All Set to Raise $5.4 Billion in IPO

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China-based #Kuaishou Technology has planned to raise at least US$5.4 billion (HK$41.9 billion) in the supposedly #Hong Kong’s largest public offering (IPO) that would make the company’s value at around $60 billion. 

The listing will be between $4.9 billion and $5.4 billion which can rise up to $6.3 billion based on overallotment options implemented by bankers. 

The price range for the IPO rose over the weekend, owing to the strong demand from investors. The shares will begin to price on Friday between $13.55 and $14.84 and the trading is expected to begin on February 5. 

The Kuaishou’s IPO consists of 10 investors that includes Singapore’s wealth funds GIC and #Temasek Holdings. Other cornerstone investors are Abu Dhabi Investment Authority, Morgan Stanley Investment Management, Fidelity Investment, Capital Group, and Canadian Pension Plan Investment Board. 

Notably, Kuaishou is the one of the first Chinese video-sharing applications to seek Hong Kong listings in their stock. Kuaishou’s revised prospectus shows over 262.4 million everyday users in the first nine months last year, and MAU exceeding 769 million. 

In Hong Kong’s recent history, Kuaishou’s launch represents the second largest floatation.

Tags: hongKuaishouKuaishou TechnologyTemasek
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