FILE PHOTO: A screen showing footage of a military parade is seen at a booth of Chinese video-streaming startup Kuaishou at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China, Sept. 4, 2020. REUTERS/Tingshu Wang/File Photo
HONG KONG: Chinese online short video start-up Kuaishou aims to raise up to $5 billion in a Hong Kong initial public offering (IPO) as early as January, people with direct knowledge of the matter told Reuters, for the city's latest multibillion-dollar tech float.
The nine-year-old company, backed by social media and gaming giant Tencent Holdings Ltd, is targeting a valuation of over $50 billion, said the people, requesting anonymity due to confidentiality constraints.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
