HONG KONG: Chinese video site Bilibili is considering a secondary listing in Hong Kong, said two people with direct knowledge of the matter, joining other U.S.-listed Chinese companies eyeing a return to the exchange closer to home amid China-U.S. tensions. The company, which is backed by Chinese tech giants Tencent and Alibaba and went public on Nasdaq in March 2018, has held preliminary talks with investment banks about the secondary listing prospect, the people said. Bilibili, with a current market capitalisation of $16.2 billion, is mulling selling between 5% and 10% of its shares, one of them said. It was not immediately clear how much the company is aiming to raise as the talks are in early stages. Bilibili will only be able to list in Hong Kong next year, however, the people said, as under the city's listing rules, it has to have a track record of at least two financial years of good regulatory compliance on another qualifying exchange. Bilibili did not respond to an emailed query for comment. Calls to its investor relations office went unanswered. The people with knowledge of the matter declined to be named as the information is confidential. A Hong Kong listing for Bilibili would follow in the steps of several Chinese peers. Alibaba raised $12.9 billion in a secondary listing in November 2019. More recently e-tailer JD.com raised $3.9 billion and games developer NetEase Inc raised $3.1 billion. The plan comes as the U.S. Senate passed legislation in May that could ban Chinese companies not adhering to Washington's regulatory and audit standards from listing shares on U.S. exchanges or raising money from American investors. Nasdaq will also unveil new restrictions on IPOs, a move that will make it harder for some Chinese companies to list on its bourse. Starting out as an animation site popular with teens, Bilibili is expanding into areas such as documentary, e-sports, and music videos, attracting more than 130 million monthly active users. - Reuters
Buy Apple Account
if you want to buy apple account, choose buyappleacc.com, buyappleacc.com is a best provider within bussiness for more than 3 years. choose us, you will never regret. we provied worldwide apple developer account for sale.