Market Chatter: Kuaishou Technology's KLING AI Picks Three Banks for Proposed IPO

MT Newswires Live17:16

Kuaishou Technology's (HKG:1024) Kling AI chose China International Capital (SHA:601995, HKG:3908),or CICC, Goldman Sachs Group, and UBS Group for its IPO, Bloomberg reported Tuesday citing people with knowledge of the matter.

The AI video service company is looking to raise a minimum of $1 billion from its initial public offering by as early as next year, the people said.

Details of the share sale are yet to be finalized, according to the report.

A spokesperson said Kling AI has nothing to add on the report. CICC, Goldman Sachs Group, and UBS Group did not immediately respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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