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IPO Date 03/02/2021

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Kuaishou
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General info on Kuaishou

About the company

  • Name
    Kuaishou Technology
  • Industry
    Internet
  • Employees
    1001-5000
  • Founding year
    2011
  • Ticker
    1024

Filing Information

  • IPO file date
    January 2021
  • No. of shares
    365,000,000
  • Price range
    $13.55 - $14.84
  • Exchange
    Hong Kong
  • Bookrunners
    Bank of America, Morgan Stanley, China Renaissance
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IPO Details

About Kuaishou

Kuaishou, owned by Kuaishou Technology, is a social platform that allows users to create short clips, live content, and share moments with the world. With the main office in Beijing, the App was designed for the Chinese audience – just like main competitor TikTok - but quickly gained global popularity. 

IPO figures

When it announced its decision to go public, Kuaishou was aiming to raise roughly $5 billion. 

The company appointed Bank of America, Morgan Stanley, and China Renaissance as underwriters. It was set to raise as much as $6.3 billion in its Hong Kong Stock Exchange IPO, scheduled for February 5th.

Kuaishou initially priced its shares at $13.55 - $14.84, a target which would have valued the company at $61.7 billion. But at the opening, the price was $43.60/share. It closed the Hong Kong session at $38.70.

According to the Financial Times, Kuaishou aimed for $5.4 billion, but the actual figures came higher at $5.32 billion.

 

Valuation 

Forbes estimated Kuaishou’s market cap to be $18 billion.

 

What you need to know

  • Founded in 2011 by Su Hua and Cheng Yiaxiao, both former engineers for Google and Baidu
  • Kuaishou was on Google Play and Apple App Store’s “Most Downloaded” list in eight countries
  • Grew in popularity in India, getting known as the Snack Video App

 

Sources: reuters.com, cnbc.com, finance.yahoo.com

Summary

  • Ticker
    1024
  • Price range
    $13.55 - $14.84
  • Exchange
    Hong Kong
  • Bookrunners
    Bank of America, Morgan Stanley, China Renaissance
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Key elements

Find out the most essential numbers for Kuaishou IPO

Users/day in China

305 million

Monthly users in China

769 million

Average daily time/user

86 minutes+

Video & Live Streaming

2.34 trillion+

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A closer look at Kuaishou Technology IPO
Learn why traders are always eager to trade IPOs

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  • Status: Available for trading
  • IPO Date: 03/02/2021
  • Price: $13.55 - $14.84

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