Chinese Video App Kuaishou Raises $5.4 Billion in Hong Kong IPO
- Market debut will be biggest internet IPO since Uber in 2019
- Tencent-backed tech startup valued at $61 billion in IPO
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Kuaishou Technology, the operator of China’s most popular video service after ByteDance Ltd.’s Douyin, raised HK$42 billion ($5.4 billion) after pricing its Hong Kong initial public offering at the top of a marketed range.
The short-video startup, backed by Tencent Holdings Ltd., sold 365 million shares at HK$115 apiece, according to terms for the deal obtained by Bloomberg on Friday. It was marketing the shares at HK$105 to HK$115 each.