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Doris Yu · · 1 min readChinese video-streaming firm raises $2.6b in Hong Kong secondary listing
“Video-streaming platform Bilibili has raised HK$20.2 billion (US$2.6 billion) from a second listing in Hong Kong, the third US-listed Chinese company to sell shares in the financial hub this year,” reported Bloomberg.
Details:
- Bilibili sold 25 million shares at HK$808 (US$104) apiece in the Hong Kong stock exchange.
- It will start trading its shares in the city on March 29.
Context:
- The development comes after several US-listed Chinese companies made their secondary listing in Hong Kong, including JD.com, NetEase, and Baidu.
- Backed by Tencent, Alibaba, and Sony, Bilibili achieved a 55% growth of average monthly active users in the fourth quarter of 2020.
Editing by Jaclyn Tiu
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