Chinese streaming company Bilibili to raise around $3 billion in Hong Kong listing

Other folks discuss to the video platform Bilibili stand at some stage within the 2020 China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai Unique International Expo Center on July 31, 2020 in Shanghai, China.

Zhou You | Visible China Neighborhood | Getty Photos

GUANGZHOU, China — Chinese video platform Bilibili also can elevate around $3 billion in its upcoming secondary listing in Hong Kong.

The company mentioned Wednesday that it will promote 25,000,000 shares as allotment of the offering. Of these shares, 750,000 will likely be offered to retail traders and the final 24,250,000 to institutional traders.

Bilibili mentioned the shares for retail traders also can no longer be situation higher than 988 Hong Kong greenbacks ($127.22), but the stock being sold to institutional traders also can very effectively be situation on the next sign.

On the 988 Hong Kong buck sign, Bilibili also can elevate 24.7 billion Hong Kong greenbacks ($3.18 billion). The company will situation the final provide sign on or around March 23, it mentioned.

Bilibili, which is presently listed on the Nasdaq, is aimed at China’s youthful generations, and cellular games is its greatest earnings driver. Bilibili moreover hosts are living announces at some stage in which customers can acquire digital items. It moreover makes cash from promoting.

The company is the latest U.S.-listed Chinese technology company to take cash in Hong Kong, following the likes of AlibabaJD.com and NetEase. And on Wednesday, a particular person conversant in the matter really helpful CNBC, that Baidu has priced the shares for its Hong Kong secondary listing at 252 Hong Kong greenbacks, which would elevate around $3.1 billion for the search massive.

In October, CNBC reported Bilibili’s secondary listing also can elevate up to $1.5 billion. Then that resolve jumped to over $2 billion as Bilibili’s Nasdaq-listed shares endured to rally. Truly, the stock is up over 400% over the final 12 months, which is a potential motive to the higher fundraising ambition.

Bilibili mentioned that this would possibly perchance perchance exhaust the proceeds from the listing for a sequence of actions along side to relief client development and expand its teach.

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