(Bloomberg) -- Kuaishou Technology, the main rival to ByteDance 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 by Tencent 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 News report. 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.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
The oldest person in the world died at the age of 119
Macabre find in CDMX: they left a body bagged and tied in a taxi
The eagles of America will face Manchester City in a duel of legends. Here are the details
Why is it good to bring dogs out to know the world when they are puppies
