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Kuaishou Makes Debut with 200% Price Surge in Biggest Tech IPO since Uber
Feb 5 2021 · 13:10 UTC | Updated
Feb 5 2021 · 13:20
by John K. Kumi · 3 min read
Photo: Depositphotos
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Kuaishou managed to raise $5.32 billion equivalent to 41.28 billion Hong Kong dollars in its Initial Public Offering (IPO).
Short video company and a competitor of TikTok Kuaishou Technology Company Ltd over the last 24 hours made its market debut in Hong Kong on the right foot. According to the report, the Kuaishou company recorded a 200% price surge before closing the day with a surge of 160% on its debut.
This has been said to be the beginning as the company stands a chance of raising about $6 billion if the investment bank issues more shares on the condition that its overallotment option is triggered. Kuaishou in a statement claimed that its shares were oversubscribed and its demand was very high.  ....

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