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The Kuaishou IPO has attracted 10 cornerstone investors — who are usually essential to secure a successful listing by subscribing to a large block of shares before formal marketing in order to boost confidence among retail buyers. DCM will have 6.5%. The company pinned its growing losses on a stepped-up marketing budget to expand its user base, enhance its brand recognition and to develop its ecosystem of partners. Kuaishou is expected to raise HK$42 billion ($5.4 billion) from the sale of the 365 million shares, making it the world’s largest tech IPO since U.S. ride-hailing platform Uber went public to the tune of $8.1 billion in May 2019, according to Bloomberg. Get this delivered to your inbox, and more info about our products and services. The lineup includes The Capital Group Inc., which would become Kuaishou’s largest external shareholder with 9.23% of the offer if the over-allotment option is not exercised, as well as Government of Singapore Investment Corp. (GIC Pte), Temasek Holdings Pte … A quarter of the funds will be earmarked for acquiring other products and companies, suggesting a spending spree could be on the horizon. Kuaishou shares opened at HKUS$338 (US$43.60) and rose to as much as HKUS$345 (US$44.50), versus the initial public offering price of HKUS$115 apiece. The Chinese startup's IPO will also give another boost to Hong Kong's already-hot capital market and could become Asia's largest since Budweiser Brewing Co APAC Ltd's US$5.8 billion float almost two years ago. Along with TikTok parent ByteDance Inc., the outfit co-founded by Su Hua and Cheng Yixiao in 2013 pioneered livestreaming and the bite-sized video format that has since been adopted around the world by the likes of Facebook Inc. Read more In the prospectus it filed to the Hong Kong bourse Thursday, Kuaishou boasted it had 305 million daily active users (DAU) as of September and they spend an average of 86 minutes on the app. If the extra shares are sold it would take the market capitalization to $56.3 billion to $61.7 billion. Mumbai: Last month, Kuaishou listed on Hong Kong’s stock exchange at a valuation of $160 billion—nearly as much as larger rival TikTok’s worth. The lineup includes The Capital Group Inc., which would become Kuaishou’s largest external shareholder with 9.23% of the offer if the over-allotment option is not exercised, as well as Government of Singapore Investment Corp. (GIC Pte), Temasek Holdings Pte Ltd., Fidelity Investments Inc., BlackRock Inc. and Canada Pension Plan Investment Board (CPP). Kuaishou said it will use about 35% of the proceeds of its IPO to “enhance and grow our ecosystem,” which included increasing the quality and diversity of content and improving the experience of users and business partners, as well as on marketing to grow the userbase. KUAISHOU-W (01024): STABILIZING ACTIONS AND END OF STABILIZATION PERIOD Kuaishou said it has received 1.42 million retail-booking applications in the filing. Alongside founders Su Hua and Cheng Yixiao, who will be the two executive directors, the firm will have four nonexecutive directors — Li Zhaohui, Zhang Fei, Chen Dou and Lin Xinhe. Chinese online video company Kuaishou Technology is aiming to raise $4.95 billion to $5.42 billion in an initial public offering (IPO) that will be the largest in Hong Kong for more than a year, according to a term sheet reviewed by Reuters. The ambitious pricing decision came after the company found strong support from retail and institutional investors during a presubscription period that kicked off Jan. 26 as its retail share offering was overbooked 1,204 times and its international offering was 39 times oversubscribed. They include 43-year-old Wang Huiwen, who co-founded Meituan and left his post as vice president to, in his words, “formally retire” on Dec. 18. The China Audio-Video Copyright Association (CAVCA), a government-backed copyright association, said it found 155 million videos on Kuaishou using copyrighted background music without authorization and requested the company delete 10,000 videos that are considered to breach intellectual property rules. The record-breaking investor frenzy to get in on Kuaishou’s IPO is not unlike that seen at the presubscription period for Ant Group Co. Ltd.’s colossal deal, which received 1.55 million applications from retail investors, allowing the bourse to freeze up HK$1.31 trillion in advance. Kuaishou is popular but it has less than half as many users as Douyin, the Chinese version of TikTok run by ByteDance. Photo: VCG, Caixin China Biz Roundup: Two Sessions Shine Spotlight on Environmental Challenges, Tip Sheet: What to Know About Kuaishou and Its Dazzling $5.4 Billion IPO, Tip Sheet: Key Facts to Know About China’s Vaccine Race, Two Sessions 2021: China Targets Tech Self-Reliance With Massive Research Spend, How China’s Digital Yuan Plans Could Bring Bitcoin’s Rally Unstuck, Exclusive: China’s Banking Regulator Names New Vice Chairman, Update: China Sets GDP Growth Target of Above 6% for 2021. Kuaishou was founded in 2012, originally as an app to allow users to make animated gifs, or images, on mobile phones. Contact reporter Anniek Bao (yunxinbao@caixin.com) and editor Michael Bellart (michaelbellart@caixin.com). Got a confidential news tip? 5Y Capital, US$35b stakeholder in Kuaishou, to raise US… Short-video giant Beijing Kuaishou Technology Co. Ltd. is about to mount the biggest internet IPO since May 2019, after pricing its shares at the top of their range for an expected $5.4 billion debut Friday in Hong Kong. Despite the explosive revenue, which grew nearly 50% to 40.7 billion yuan from the same period in 2019, largely fueled by user spending on livestreaming sessions and e-commerce, its DAUs trail Douyin, which said it had over 600 million in January. Kuaishou, which means "fast hand" in Chinese, operates apps that allow user-uploaded videos as well as live-streaming programs through which vendors can promote consumer products. Tencent will be the largest shareholder with a 12.32% stake, while 5Y Capital will control 12.08%. Shares of Chinese social video company Kuaishou made a stratospheric start in their post-IPO debut on the Hong Kong Stock Exchange. Meanwhile, 10% will be used as working capital. According to its prospectus, if over-allotment rights are not exercised, Su will hold 10.41% of the shares of Kuaishou after the listing, and Cheng Yixiao with have 8.25%. Kuaishou has exercised a “green-shoe” option that allows it to increase the proportion of shares available to retail investors from 2.5% to 6%. Shares in Kuaishou technology, the operator of China's second most popular short-video service have almost tripled on their market debut in Hong Kong, rising 194 percent.The $5.4 billion flotation ranks as the world's biggest internet IPO since that of Uber Technology's $8.1 billion U.S. share sale in May 2019. Kuaishou soared in its Hong Kong debut this month, the latest Chinese tech company to shun U.S. exchanges and stay closer to home. That said, Kuaishou’s revenues climbed 49% to 40.7 billion yuan ($6.3 billion) in the first nine months of last year, after it ratcheted up monetization efforts through advertising and e-commerce. Kuaishou’s revenues have soared in recent years, reaching 25bn yuan ($3.6bn) in the first six months of 2020, up by nearly half on the previous year. Copyright © 2019 Caixin Global Limited. A Kuaishou app interface on a mobile phone, Yichang, Hubei province, China, Jan 20, 2021. David Chao … Kuaishou is likely to be removed from Apple’s app store if it fails to resolve the copyright issues, the copyright association said in a Tuesday statement. Kuaishou did not immediately respond to a request for comment. By way of comparison, the IPO makes Chinese short-video app almost as valuable as Qualcomm, a storied chipmaker and holder of foundational wireless technology patents, whose market capitalisation is $167 billion. Sign up for free newsletters and get more CNBC delivered to your inbox. The Bytedance platform was last valued at $180 billion. Early trading on … Each signed a large-scale copyright deal with Tencent Music Entertainment. There is a so-called greenshoe option to sell a further 54.78 million shares in the 30 days after listing that could take the total amount raised up to $5.7 billion to $6.2 billion. Kuaishou to Raise Up to USD5.4 Billion in Biggest Hong Kong Share Sale Since Alibaba (Yicai Global) Jan. 26 -- Kuaishou Technology, the firm behind TikTok’s main rival in China, intends to raise as much as HKD42 billion (USD5.4 billion) in Hong Kong, making it the city’s biggest share sale since Alibaba Group Holding more than a year ago. Ma Huateng's Tencent owns a 17.8% stake in Kuaishou, along other holdings including 9% of Spotify and 12% of Snap . While at Meituan, Wang focused on the firm’s core takeout delivery business, but he was considered the company’s enforcer, working alongside Wang Xing, who was seen as the strategy man. The nonexecutive directors are representatives of the major investors of Kuaishou — Li Zhaohui is vice president of Tencent, where he also heads the investment and M&A department; Zhang Fei is partner at 5Y Capital; Shen Dou is executive vice president of Baidu Inc., and Lin Xinhe is founding partner of DCM China. While Kuaishou will beat Bytedance to a public listing, a Caixin analysis shows that’s one of the few metrics the company is leading on. KUAISHOU-W Smashes Improper Contents on Money Worship etc., Dealing Over 10K A/Cs 28.02. But all eyes will be on the three new hires for independent nonexecutive director spots. The IPO will value Kuaishou at between $55.6 billion and $60 billion, pregreenshoe, the term sheet showed. LOGIN Local; World; Business ... China’s Kuaishou aims to raise up to $5.42b in HK IPO - term sheet . CLOUDY ... he got acquainted with Cheng in 2011 and they soon decided to pair up. The 10 investors have signed up to buy $2.45 billion in Kuaishou stock at HK$115 a piece, representing 45.23% of the total shares. There is a so-called greenshoe option to sell a further 54.78 million shares in the 30 days after listing that could take the total amount raised up to $5.7billion to $6.2 billion. 2021-01-25. In Depth: IPO-Bound TikTok Rival Kuaishou Continues to Play Second Fiddle, Kuaishou Accused of Copyright Violations Ahead of Hong Kong Debut, Participation of Indian Prime Minister Narendra Modi in the 5th Eastern Economic Forum Discussed in Moscow, Get exposure for your startup at RISE 2020, CreditEase’s Tang Ning: China’s Wealth Management Market is Undergoing Five Major Shifts, Meet 5 of the best startups selected to represent China at the largest technology event in Asia. Kuaishou did not immediately respond to a request for comment. In 2013, the duo transformed the Kuaishou … The 10 investors have signed up to buy $2.45 billion in Kuaishou stock at HK$115 a piece, representing 45.23% of the total shares. Change language and ... China's Kuaishou aims to raise up to $5.42 billion in Hong Kong IPO By Scott Murdoch. The Chinese startup's IPO will also give another boost to Hong Kong's already-hot capital market and could become Asia's largest since Budweiser Brewing Co APAC Ltd's US$5.8 billion float almost two years ago. Download our app to receive breaking news alerts and read the news on the go. Kuaishou is gearing up for an initial public offering (IPO) in Hong Kong. He will chair Kuaishou’s nominating and corporate governance committees. Former Exec at China's Kuaishou Arrested for Alleged Graft Zhao Danyang, a former vice president responsible for content business, was arrested in … By 6:30 AM ET (1130 GMT), Dow Jones futures were up 145 points, or 0.5%, while S&P 500 futures were up in line and Nasdaq futures were lagging slightly with a gain of 0.3%. Huang officially retired on Sept. 16. Kuaishou had about 262 million average daily active users as of September, according to its prospectus. Kuaishou is attempting the world's biggest Internet IPO since Uber's US$8.1 billion US share sale in May 2019, according to data compiled by Bloomberg. The second is former JD.com executive Huang Xuande, who joined JD.com in September 2013 and served as chief financial officer until June 2020, when he handed his post over to former PwC audit partner Xu Ran. KUAISHOU-W (01024.HK) to Ban Serious Violator's A/C under Crackdown on Irregular Marketing Content: 11: AASTOCKS: 18.02. Kuaishou revealed Thursday that it would add former executives from e-commerce giant JD.com Inc. and Chinese super-app operator Meituan for a nine-person board of directors. The final price of the IPO will be set on Friday and Kuaishou shares will start trading on the Hong Kong exchange on February 5. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Kuaishou is gearing up for an initial public offering (IPO) in Hong Kong. Sign in. Tip Sheet: What to Know About Kuaishou and Its Dazzling $5.4 Billion IPO. Chinese short-video platform Kuaishou saw a nearly 200% growth in its shares as a result of its debut in the Hong Kong stock market, with its shares opening at HK$338 (US$43.6).. However, its losses widened to 97.4 billion yuan in the three quarters through September, much larger than the 1.6 billion yuan loss it reported for the same period in 2019. Nachrichten zur Aktie Kuaishou Technology | A2QNAP | KUASF | KYG532631028 Company sources previously told Caixin that a major restructuring effort, which began in mid-2019 and saw the firm’s staff double to over 10,000, had created some confusion about which of the two men were now calling the shots. Login My Account 15. Above that, China Tower Corp raised $7.4 billion in August 2018. However, emerging regulatory issues and the threat of muscular upstart Douyin, which last year obtained a coveted online payment license allowing it to launch an e-wallet and pursue a more aggressive e-commerce strategy, could yet rain on the firm’s parade. Shares of the 10-year-old company, which remains little known outside China where it is the primary competitor to TikTok’s Chinese twin Douyin, will go public on the Hong Kong Stock Exchange at HK$115 ($14.80) a share, according to its latest filing to the bourse Thursday. Kuaishou, which means “fast hand” in Chinese, is one of China’s biggest internet success stories of the past decade, part of a generation of startups that thrived with backing from Tencent Holdings Ltd. A Kuaishou app interface on a mobile phone, Yichang, Hubei province, China, Jan 20, 2021. All Rights Reserved. Kuaishou is expected to raise HK$42 billion from the sale of 365 million shares in its Hong Kong IPO. Kuaishou’s IPO has buoyed the total from first-time share sales in Asia in January to $13.3bn, the highest for the first month of the year in the region on record, according to data compiled by Bloomberg. That’s still less than half the 600 million on Douyin, the Chinese version of TikTok. It plans to sell 8.89% of its total shares, which would give it a valuation of around $61 billion. If Kuaishou raises US$6.2 billion, it will beat the most recent largest IPO in Hong Kong which was Budweiser Brewing Company's US$5.75 billion IPO in September 2019. Kuaishou became the world’s largest livestreaming platform at the end of 2017, but failed to anticipate the success of Douyin, which was founded in 2016, and has blazed a trail internationally with TikTok, despite geopolitical ructions. We want to hear from you. Su, who is also Kuaishou’s chairman and CEO, will be one executive director, while the other will be Chief Product Officer Cheng Yixiao. If Kuaishou raises $6.2 billion, it will beat the most recent largest IPO in Hong Kong which was Budweiser Brewing Company's $5.75 billion IPO in September 2019. In a sign that the short-video app may face regulatory hurdles at home, Kuaishou was accused of massive copyright infringements by a government-backed copyright association Tuesday. All Rights Reserved. Kuaishou's deal, at the top end, will be the largest IPO in the world of a digital company since Uber Technologies raised $8.1 billion in May 2019. As smartphone technology swept the market, and mobile networks ramped up … Sales, at $6.3bn in the first nine months of last year, have yet to catch up too. A Division of NBCUniversal. Data is a real-time snapshot *Data is delayed at least 15 minutes. KUAISHOU TECHNOLOGY AKTIE und aktueller Aktienkurs. The online video site, backed by Tencent Holdings, will price 365.2 million shares at between HK$105 and $HK115 apiece, the term sheet shows. Around 30% will be used for research and development, including in areas like big data and learning algorithms, and to attract and retain talent. Ten shareholders, led by Capital Group, have become cornerstone investors accounting for about $2.45 billion, the term sheet showed. Kuaishou is attempting the world's biggest internet IPO since Uber's US$8.1 billion US share sale in May 2019, according to data compiled by Bloomberg. The deal could value Kuaishou, which competes with ByteDance’s TikTok, at up to $61.7bn and would be the largest tech IPO since ride-hailing company Uber went to market in 2019. © 2021 CNBC LLC.

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