Chinese short video sharing app Kuaishou is looking forward to raise $5.42 billion from its upcoming initial public offering in the Hong Kong stock exchange. This was revealed after the company disclosed its term sheet.
This is set to be the largest IPO in Hong Kong stock exchange for the past one year.
According to the term sheet, Kuaishou is planning to price its shares between HK$105 and $HK115 in the IPO offering a total of 365.2 million shares.
As per the term sheet also, the company has a greeenshoe option to sell an additional 54.78 million shares 30 days after the IPO. If this happens, then total amount raised from going public by the company will increase from $5.7 billion to $6.2 billion.
Following the IPO, Kuaishou will now have a market valuation of around $55.6 billion and $60 billion. However, if the greenshoe option takes place the company will have a market valuation of between $56.3 billion to $61.7 billion.
The company held its last financing round late 2019 from which it raised $3 billion from its investors giving the company a market valuation of $30 billion back then.