Bilibili rose about 7%
Tiger Newspress2021-03-29
(March 29) BILI ADRs are up nearly 6% in market trading.
Shares of Bilibili debuted in Hong Kong trading on Monday, dropping nearly 7% during the day before closing down 1%.
The $2.6B secondary listing for the video streaming service follows a similarly soft Hong Kongdebut for Baidu.
Bilibili plans to use proceeds for building out its content and to support creators on its platform.
Last week, Chinese tech stocks came under pressure as the SEC adopted new reporting requirements for foreign companies listed inthe United States.
The action prompted a string of block trades ofChinese companies.
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