Kuaishou Technology Co Ltd the parent company of chinese short video sharing app Kuaishou is set to open its books for its upcoming initial public offering in the Hong Kong stock exchange from which it will seek to raise $5 billion.
The company will open its book for the IPO next week on Monday 25 according to reliable sources, this is set to be Hong Kong’s largest float in more than a year.
The sources further revealed financial analysts from investment banks working on the deal have started engaging potential investors as part of the pre-marketing roadshow. The sources declined being revealed since such information has not yet been put out to the public.
The company started preparing going public in the beginning of fourth quarter last year aiming to get a market valuation of $50 billion after going public.
Currently, there is no exact valuation of the company however sources have said after several meeting being held this week are concluded an exact valuation of the company will be given.
For the nine month period ending September 2020, Kuaishou reported a daily user average of 262.4 million daily users.