Chinese video sharing site Bilibili will seek to raise $2.6bn in the latest so-called homecoming listing in Hong Kong, as shares in search group Baidu got a lukewarm reception from investors on their trading debut in the city.
Bilibili, a YouTube-like online entertainment hub that targets Chinese teenagers, told investors on Tuesday that it expected to price its shares at HK$808 (US$104) each. That puts the company on track to bring in about HK$20.2bn from the sale of 25m shares, people familiar with the matter said.
Shares in Baidu, widely viewed as China’s answer to Google, rose about 1 per cent on their first day of trading in Hong Kong after the company raised about $3.1bn.
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