January 16, 2021

Cocoabar21clinton

Truly Business

Chinese video clip platform Bilibili data files for Hong Kong listing

2 min read

The Bilibili booth is pictured throughout the 2019 Yangtze River Delta Intercontinental Cultural Industries Expo at Nationwide Exhibition and Convention Heart on November 21, 2019 in Shanghai, China.

Gao Yuwen | Visual China Group | Getty Images

GUANGZHOU, China — Chinese video platform Bilibili has confidentially filed for a secondary listing in Hong Kong, a source shut to the make a difference advised CNBC.

Bilibili, which is at this time detailed on the Nasdaq, made the submitting within just the very last few days, the resource claimed.

CNBC described past week that the listing could increase in excess of $2 billion and the submitting was to be envisioned final 7 days or commencing of this week.

Providers previously mentioned on another significant trade can confidentially file for a secondary listing on Hong Kong’s inventory trade as a way to avert a main effect on its share rate. The filing is not general public nonetheless.

Pricing details usually stick to in the coming months.

A Bilibili spokesperson was not right away available when contacted by CNBC.

Bilibili will be the most up-to-date U.S.-outlined Chinese business to flock to Hong Kong for a secondary listing. Alibaba, JD.com and NetEase have all taken the exact route around the very last 14 months.

Ongoing tensions among the U.S. and China have threatened Chinese companies outlined on Wall Avenue. In December, President Donald Trump signed laws that threatened to delist companies that do not comply with American auditing criteria.

That could be a person rationale at the rear of the increase of secondary listings in Hong Kong.

The video clip platform is aimed at China’s youthful generations and mobile video games is its most significant income driver. Bilibili also hosts are living broadcasts in the course of which customers can obtain digital merchandise. It also would make money from promoting.

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