Nasdaq-listed Chinese video platform Bilibili files for Hong Kong listing to raise over $2 billion

The Bilibili gross sales space is pictured all the tactic during the 2019 Yangtze River Delta International Cultural Industries Expo at National Exhibition and Convention Center on November 21, 2019 in Shanghai, China.

Gao Yuwen | Visible China Neighborhood | Getty Pictures

GUANGZHOU, China — Chinese video platform Bilibili has confidentially filed for a secondary itemizing in Hong Kong, a source finish to the matter actually helpful CNBC.

Bilibili, which is for the time being listed on the Nasdaq, made the filing all the tactic during the closing few days, the source acknowledged.

CNBC reported closing week that the itemizing may possibly well elevate over $2 billion and the filing became to be expected closing week or initiating of this week.

Firms already listed on one other main substitute can confidentially file for a secondary itemizing on Hong Kong’s stock substitute as a methodology to prevent a chief impact on its fragment tag. The filing is no longer public but.

Pricing primary substances on the total practice within the arrival weeks.

A Bilibili spokesperson became no longer straight accessible when contacted by CNBC.

Bilibili may be the most modern U.S.-listed Chinese firm to flock to Hong Kong for a secondary itemizing. AlibabaJD.com and NetEase have all taken the identical route over the closing 14 months.

Continued tensions between the U.S. and China have threatened Chinese firms listed on Wall Boulevard. In December, President Donald Trump signed laws that threatened to delist firms that don’t comply with American auditing requirements.

That will possibly well be one reason on the back of the upward thrust of secondary listings in Hong Kong.

The video platform is geared in the direction of China’s youthful generations and cell video games is its supreme income driver. Bilibili moreover hosts are residing declares all the tactic through which customers can capture digital devices. It moreover makes cash from marketing and marketing.

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