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Friday, July 30, 2021

Bilibili prepares for its secondary listing in Hong Kong

直击美股

Bilibili has hired UBS, JPMorgan, Goldman Sachs and Morgan Stanley to arrange its secondary listing in Hong Kong.

Bilibili is a Nasdaq-listed Chinese video platform popular with millennials for its animation and gaming content. The company, which counts Tencent Holdings, Alibaba Group Holding and Sony as investors, is valued at $15.7 billion now.

The company is moving ahead with plans for a secondary listing in Hong Kong next year that could raise as much as $1.5 billion.

Other companies, including technology conglomerate Alibaba and online retailer JD.com, have already made the move and bankers estimate over 30 more could follow.

Bilibili’s share price has quadrupled since listing on the Nasdaq and has more than doubled this year. Its stock closed at $48.17 today, up 6.81% from yesterday.

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