Bilibili booth is pictured at the 2019 Yangtze River Delta International Cultural Industries Expo at the National Exhibition and Convention Center on November 21, 2019 in Shanghai, China.
Gao Yuwen | China Vision Group Getty Images
GUANGZHOU, China – Chinese video platform Bilibili will raise about $ 2.6 billion in its upcoming Hong Kong listing.
The Nasdaq-listed technology company said Tuesday it will price the 25 million shares it issues at 808 Hong Kong dollars each. That translates to about $ 104.06 per American investment allowance (ADS), Bilibili said.
The total profits from the listing are expected to be at 20.2 billion Hong Kong dollars ($ 2.6 billion). That figure could rise if the subscription investment banks decide to opt out of the so-called oversubscription option of another 3.75 million shares.
Bilibili will start trading in Hong Kong on March 29 under the code “9626.”
In October, CNBC reported that Bilibili’s high school listing could raise up to $ 1.5 billion. That figure then jumped to more than $ 2 billion as Bilibili shares on the Nasdaq list continued to accumulate. U.S. stocks are up more than 400% compared to a year ago.
Bilibili makes money through mobile games and sells meaningful gifts to consumers who then pass them on to their favorite live streams.
By making a high school listing in Hong Kong, Bilibili will follow similar to other Chinese companies registered in the US including Alibaba and JD.com.