Chinese livestreaming and short video app Kuaishou is aiming to raise up to $5.42 billion in an initial public offering .At the top end, it would be the world's largest IPO of a digital company since Uber.Chinese online video company Kuaishou Technology is aiming to raise between $4.95 billion and $5.42 billion in an initial public offering that would be the largest in Hong Kong for more than a year, according to a term sheet reviewed by Reuters.
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.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.
The final IPO price will be set on Friday and Kuaishou shares will start trading on the Hong Kong exchange on February 5. "The company used to make a profit but it ramped up its sales and marketing spending in 2019 and went into a loss," said Sumeet Singh, head of research at Aequitas, who publishes on the Smartkarma platform.