Bilibili Confirms $3.2 Billion Stock Launch in Hong Kong
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variety.comPatrick Frater Asia Bureau ChiefDespite a period of recent worries for Chinese tech firms, video entertainment firm Bilibili has confirmed details of its secondary share listing in Hong Kong.
It set a maximum price of HK$988 per share, some 12% higher than the $113.31 Tuesday night close for its ADR form shares which are traded on the NASDAQ.At that price the company is expected to raise $3.2 billion (HK$24.7 billion).
But the amount of fresh capital it brings in could go higher as the vast majority of the share sale is reserved for institutional investors, and there is also an over-allotment option.The China government has put so-called platform companies on notice that it is investigating their activities.
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