Photographer: Qilai Shen / Bloomberg
Photographer: Qilai Shen / Bloomberg
Kuaishou Technology, the main competitor to ByteDance Ltd is in China, trying to raise as much as $ 5.4 billion in Hong Kong in what would be one of the largest public offering in Asia this year.
Beginning of the short video, with support Tencent Holdings Ltd., selling 365 million shares at HK $ 105 to HK $ 115 per share, is subject to the terms of the deal acquired by Bloomberg News. The company will start taking investment orders from Monday to January 29 and is slated to list on February 5th.
Kuaishou has attracted 10 cornerstone investors to offer, who agreed to join for $ 2.45 billion of stock, based on the midpoint of the market segment. The lineup includes BlackRock Inc. and Abu Dhabi Investment Authority, the terms show, Bloomberg News confirmed earlier report. Cornerstone buyers usually agree to hold stock for a fixed period in exchange for early, guaranteed distribution.
Morgan Stanley, Corp Bank of America and China Renaissance Holdings Ltd. supporting the contracts.