Nasdaq-listed Chinese language video platform Bilibili information for Hong Kong itemizing to boost over $2 billion


The Bilibili sales space is pictured in the course of the 2019 Yangtze River Delta Worldwide Cultural Industries Expo at Nationwide Exhibition and Conference Middle on November 21, 2019 in Shanghai, China.

Gao Yuwen | Visible China Group | Getty Pictures

GUANGZHOU, China — Chinese language video platform Bilibili has confidentially filed for a secondary itemizing in Hong Kong, a supply near the matter advised CNBC.

Bilibili, which is presently listed on the Nasdaq, made the submitting inside the previous couple of days, the supply stated.

CNBC reported last week that the listing could raise over $2 billion and the submitting was to be anticipated final week or starting of this week.

Corporations already listed on one other main trade can confidentially file for a secondary itemizing on Hong Kong’s inventory trade as a option to stop a significant affect on its share worth. The submitting just isn’t public but.

Pricing particulars often comply with within the coming weeks.

A Bilibili spokesperson was not instantly out there when contacted by CNBC.

Bilibili would be the newest U.S.-listed Chinese language agency to flock to Hong Kong for a secondary itemizing. and NetEase have all taken the identical route during the last 14 months.

Continued tensions between the U.S. and China have threatened Chinese language corporations listed on Wall Road. In December, President Donald Trump signed legislation that threatened to delist firms that don’t comply with American auditing standards.

That may very well be one cause behind the rise of secondary listings in Hong Kong.

The video platform is aimed toward China’s youthful generations and cell video games is its largest income driver. Bilibili additionally hosts stay broadcasts throughout which customers should purchase digital objects. It additionally makes cash from promoting.