SPY380.36-1.97 -0.52%
DIA309.45-4.53 -1.44%
IXIC13,192.35+72.96 0.56%

UPDATE 1-Kuaishou shares rise as much as 200% in Hong Kong market debut

· 02/04/2021 20:39
UPDATE 1-Kuaishou shares rise as much as 200% in Hong Kong market debut

Updates share price

- Shares in Chinese online video platform Kuaishou Technology 1024.HK rose as much as 200% in their Hong Kong stock market debut on Friday, after the company raised $5.4 billion in its initial public offering (IPO) last week.

The company's shares were priced at HK$115 apiece, the top of its marketing range. nL1N2K40MB

The red hot IPO is the latest sign of trading interest from global amateur investors that has raised fears of an asset bubble. nL1N2K30QK

Kuaishou's IPO is the largest in Hong Kong since Budweiser's Asia unit 1876.HK raised $5.75 billion in September 2019.


($1 = 7.7525 Hong Kong dollars)


(Reporting by Donny Kwok and Alun John; Editing by Jacqueline Wong and Tom Hogue)

((Alun.John@thomsonreuters.com; +852-28415827;))