Kuaishou plans to raise at least five billion dollars when it goes public.
According to insiders, TikTok rival Kuaishou could reach a market capitalization of around 60 billion dollars (around 50 billion euros) when it debuted in Hong Kong on January 25. This was suggested by feedback from investors, said two people familiar with the matter. The Chinese short video service aims to raise at least $ 5 billion on its IPO.
The exact evaluation will only be determined after further discussions with interested parties this week, added the insider. Originally, Kuaishou had targeted a market value of $ 50 billion. The technology company, in which the Chinese Facebook rival Tencent has a stake, initially did not want to comment on a possible higher rating.
With an issue volume of around five billion dollars, this would be the largest IPO in Hong Kong since the Anheuser-Busch brewery's Asian business debuted in September 2019. According to its own information, Kuaishou had an average of 262.4 million users daily between January and September 2020.
