ipo_page_title
get_ready_to_trade_itKuaishou Technologies
instrument_page_subtitle
instrument_page_trade_online_at
general_info_on Kuaishou
about_the_company
name
Kuaishou
industry
Internet
employees
1001-5000
founding_year
2011
ticker
1024
filing_information
ipo_file_date
January 2021
nr_of_shares
365,000,000.00
price
$13.55 -$14.84
exchange
Hong Kong
bookrunners
Bank of America, Morgan Stanley, China Renaissance
Who is Kuaishou?
Kuaishou Technology is the owner company of Kuaishou, a social community platform, and also the main competitor of TikTok. Designed to generate video and live content for the massive Chinese userbase, the company quickly became a leading content destination for users.
Kuaishou IPO statistics
Kuaishou announced its IPO in January, seeking to raise approximately $5 billion. With Bank of America, Morgan Stanley, and China Renaissance as underwriters, the Kuaishou group was set to rise to $6.3bn in a Hong Kong initial public offering on February 5th.
Kuaishou initially priced its shares at $13.55 - $14.84 but opened at $43.60 and closed the trading session at $38.70.
The first deal valued Kuaishou at up to $61.7bn, the highest valuation for a tech company since Uber went public in 2019. Moreover, it had the potential to be the largest IPO since Budweiser Brewing Company raised $5.75 billion in September 2019.
Kuaishou's listing was expected to raise between $4.9bn and $5.4bn, according to a term sheet seen by the Financial Times. The actual figures reached $5.32 billion, higher than expected.
What is Kuaishou's valuation?
Forbes estimated the company's market cap to be US$18 billion.
Basic info about Kuaishou
- Su Hua and Cheng Yixiao founded Kuaishou in 2011, based on previous software engineering experience at Google and Baidu.
- Kuaishou has also gained considerable popularity outside mainland China, being part of the Google Play and Apple App Store's "Most Downloaded" list in eight countries.
- In India, Kuaishou is known as Snack Video.
- It is often referred to as "Kwai" in overseas markets. Kuaishou is headquartered in the Haidian District, Beijing.
Sources: finance.yahoo.com, reuters.com
summary
ticker
1024
price
$13.55 -$14.84
exchange
Hong Kong
bookrunners
Bank of America, Morgan Stanley, China Renaissance
key_points
ipo_quick_overview Kuaishou ipoKuaishou
Daily Average Users in China
305 million
Monthly Avg Users in China
769 million
Average daily time/user
86+ minutes
Video & Live Streaming Stats
2.34 trillion
ipo_trading_online
sneak_peak Kuaishou ipo sneak_peak
see_why_traders_seek_and_cherich_ipos
status
ipo_status_available
ipo_date
03/02/2021
price
$13.55 -$14.84
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