Chinese long video streaming site Bilibili (NASDAQ: BILI) is reportedly preparing for a secondary listing in the Hong Kong Stock Exchange to raise as much as USD 1.5 billion by selling between 5% and 10% of its shares, Nikkei Asian Review said Tuesday.
The stock price of Bilibili rose by 6.8% on the news.
Famous for its rich anime, cartoon, and video game-related content, the Shanghai-based company is one of the most popular long video services among the younger generations in the country. It posted a better-than-expected Q2 2020 earnings, with 172 million monthly active users and total net revenues of USD 370.5 million, a 70% year-over-year increase, KrASIA reported. Though its net loss widened to USD 80.8 million.
Bilibili is the latest US-listed Chinese tech stock to seek a secondary listing in Hong Kong as the tension between the U.S. and China exacerbates.
Bilibili made its public debut in Nasdaq in 2018, and counts both Tencent and Alibaba as its investors.
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This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.