China’s Kuaishou and Motion Magic Take Further Steps Towards IPOs
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variety.comPatrick Frater Asia Bureau ChiefChinese social media firm Kuaishou and post-production and VFX company Motion Magic Digital Entertainment have both taken further steps towards initial listing of their shares.Kuaishou, which may be the world’s second most downloaded video sharing app after Bytedance’s TikTok/Douyin, is reported to have set a date and target price for its previously announced IPO in Hong Kong.
An update of the partially-redacted November prospectus has not been made public by the Hong Kong Stock Exchange, though a revised draft appears to have been circulated within the finance industry.Financial media in Hong Kong newly report that the company will target a late-January 2021 market debut.
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