TikTok rival’s $5.4 billion IPO has attracted large investors

Chinese short-video app operator Kuaishou Technology will raise a target of $5.4 billion from its Hong Kong list after meeting strong investor demand.

The initial public offering is the largest in the world in more than a year, and the company will be valued at about 61 61 billion. KwaZulu-Natal, backed by Tencent Holdings Limited.

Behind Tick Tuck and his sister App Dwayne compete with the Chinese company Bytons Limited.

Both companies have opened up to younger Chinese people to watch and record short videos on their smartphones. According to its prospectus statistics, Kuaishou Shake Video Platform is the world’s second-largest platform, and its services in China averaged 305 million daily active users in the nine months ending September. Included.

“Fast Hand” will sell 115 shares of Hong Kong ((US 14 14.80) in Chinese, which is at the top of the initial range of K 105 to HK 5 115, the Wall Street Journal reported on Saturday. Viewed according to a term sheet. . Its shares will be traded from February 5.

The IPO helps Hong Kong to emerge as a market for major Chinese technology groups. In recent years, the city has won IPOs from companies such as Matiwan, a major player in food delivery and travel bookings, and smartphone maker Xiaomi. Corporation

As well as secondary listings from listed businesses in the United States, such as Alibaba Group Holdings Limited And JD.com Inc.

Shares of these companies have tripled in size over the past 12 months, and Xiaomi’s area has more than doubled in the same period. The TechFocus Benchmark, introduced by the Hang Seng Index Company last summer, is one of the city’s most widely followed Hang Seng Index, up 32 percent in six months by the end of Friday.

KwaZulu-Natal is taking advantage of the wider IPO market in Hong Kong and internationally. After launching the hot market in Hong Kong last year, Chinese Wanping technology company Ashmore International Holdings Limited, And bottled water giant Nong Fu Spring include.

For example, both are now multiplying their prices in their IPOs.

Morgan Stanley units, Bank of America Corporation And China Renaissance Holdings Limited.

Working as co-sponsor of KwaZulu-Natal IPO. A block of 10 Cornstone investors backed the deal by pledging to buy $ 2.45 billion worth of shares wherever they set a price.

The so-called green shoe option means that underwriters can eventually increase the size of the contract by 15 by a total of 2.2 billion.

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