Kuaishou (1024 HK)

Updated 4 Feb – Kuaishou IPO – Shares surge 181% in gray market

• Shares of new HK IPO Kuaishou Technology surged to a high of HK$322.80 in HK’s grey market trading, from its initial IPO price of HK$115.
• If its shares follow the performance of the gray market, Kuaishou will become the second-best debut for an HK IPO over US$1 billion.
• Kuaishou’s shares were more than 1,200x oversubscribed in the public tranche, making it the most popular IPO over US$1 billion in HK’s history, according to Bloomberg data.
• Kuaishou will be raising a total of HK$42 billion (US$5.4 billion) and will have a market value of US$60.9 billion based on its IPO price.
• New HK IPOs in 2020 have surged by an average of around 70% since their debut. This year, Yidu Tech surged 148% on its debut while Strawbear Entertainment Group shares soared 84%.