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ByteDance rival Kuaishou aims to raise up to $5 billion in Hong Kong IPO - sources
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ByteDance rival Kuaishou aims to raise up to $5 billion in Hong Kong IPO - sources
Chinese online short video start-up Kuaishou aims to raise up to $5 billion in a Hong Kong initial public offering (IPO) as early as January, people with direct knowledge of the matter told Reuters, for the city's latest multibillion-dollar tech float. The nine-year-old company, backed by social media and gaming giant Tencent Holdings Ltd, is targeting a valuation of over $50 billion, said the people, requesting anonymity due to confidentiality constraints. Kuaishou has hired Bank of America, China Renaissance and Morgan Stanley to work on the IPO and is looking to file for the float as soon as the end of October, the people said.
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