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Bilibili begins public offering in Hong Kong

Abstract : Video-streaming platform Bilibili Inc. started its public offering in Hong Kong Thursday as another U.S.-traded mainland company seeking a secondary listing here.

HONG KONG, March 18 (Xinhua) — Video-streaming platform Bilibili
Inc. started its public offering in Hong Kong Thursday as another
U.S.-traded mainland company seeking a secondary listing here.

The company plans to raise up to 24.7 billion Hong Kong dollars
(about 3.18 billion U.S. dollars) through an issuance of 25 million
shares, with the maximum price at 988 Hong Kong dollars. The proceeds
will be used to improve its content, user experience and marketing,
among others.

Its shares will begin trading on March 29. Bilibili first went public in Nasdaq in 2018.

The fund-raising of Bilibili in Hong Kong came shortly after search
engine giant Baidu, which kicked off its public offering last week and
will start trading on Tuesday.

Apart from the two tech firms, altogether 10 U.S.-traded mainland
companies have finished secondary listings in Hong Kong since Hong Kong
Exchanges and Clearing Limited reformed its listing system in 2018.
Enditem

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Source: Bilibili begins public offering in Hong Kong

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