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Kuaishou IPO: ByteDance's Chinese Rival Mulls Raising $5.4 Billion


Kuaishou IPO: ByteDance s Chinese rival mulls raising $5.4 billion
Kuaishou s valuation may double after its Hong Kong IPO and reach at $60.9 billion, up from the $28.6 billion it achieved in a funding round last year.
Kuaishou app. (PC-Facebook)
Kuaishou Technology, China’s most popular video service after ByteDance’s Douyin, is mulling to raise around $5.4 billion in the world’s biggest internet initial public offering (IPO) since Uber Technologies Inc, reported Bloomberg.
According to the latest development, the Tencent Holdings Ltd-backed short video startup is selling 365 million shares at HK$105 to HK$115 each. The Chinese firm will begin taking investor orders from Monday through January 29 and is all set to list its IPO in Hong Kong on February 5. ....

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