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2021-03-12

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Bilibili Wins Nod for $3 Billion Hong Kong Second Listing

Streaming platform’s U.S. shares up ninefold since 2018 IPO U.S.-listed Chinese technology firms flo

Bilibili Wins Nod for $3 Billion Hong Kong Second Listing

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A representative for Bilibili didn’t immediately respond to requests for comment.</p>\n<p>The approval was previously reported by IFR, which said the share sale could launch as soon as next week.</p>\n<p>Bilibili would join a rapidly expanding group of Chinese companies seeking a trading foothold in Hong Kong, pressured by tensions between China and the U.S. and beckoned by the Asian financial center’s increasingly hot market for new listings.</p>\n<p>Prospective entrants include online car-sales website Autohome Inc. and search giant Baidu Inc. after a wave of such share sales in 2020 which saw some $17 billion raised. Tencent Music Entertainment Group. is also looking at selling shares in the city.</p>\n<p>Bilibili, whose backers include Tencent Holdings Ltd., Alibaba Group Holding Ltd. and Sony Corp., started in 2009 as a website serving up Japanese animation to eager young viewers in China. It has broadened its offering to become a platform incorporating anime as well as comics and mobile videogames, generating revenue from advertising, live-streaming and premium memberships.</p>\n<p>Companies like Bilibili benefited in 2020 from consumers trapped in their homes by the coronavirus pandemic. The entertainment platform had 202 million average monthly active users in the fourth quarter of 2020, a 55% increase over the same period in 2019.</p>\n<p>Bilibili’s 2018 initial public offering in New York raised $483 million and made chief executive officer Chen Rui a billionaire, according to the&nbsp;Bloomberg Billionaires Index. Its American depositary shares have risen more than ninefold from their original offer price of $11.50, closing at $110.44 each on Thursday and giving the firm a market value of $39 billion.</p>\n<p>In the last quarter of 2020, the company posted a net loss of 827.8 million yuan ($127.6 million), widening from 382.8 million yuan in the same period a year earlier. Meanwhile its sales jumped 91% to 3.8 billion yuan.</p>\n<p>Goldman Sachs Group Inc., JPMorgan Chase &amp; Co., Morgan Stanley and UBS Group AG are leading the deal.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bilibili Wins Nod for $3 Billion Hong Kong Second Listing</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBilibili Wins Nod for $3 Billion Hong Kong Second Listing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-12 14:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-03-12/bilibili-said-to-win-nod-for-3-billion-hong-kong-second-listing?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Streaming platform’s U.S. shares up ninefold since 2018 IPO\nU.S.-listed Chinese technology firms flocking to Hong Kong\n\nChinese video streaming platform Bilibili Inc. has received the green light from...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-12/bilibili-said-to-win-nod-for-3-billion-hong-kong-second-listing?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BILI":"哔哩哔哩"},"source_url":"https://www.bloomberg.com/news/articles/2021-03-12/bilibili-said-to-win-nod-for-3-billion-hong-kong-second-listing?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122760844","content_text":"Streaming platform’s U.S. shares up ninefold since 2018 IPO\nU.S.-listed Chinese technology firms flocking to Hong Kong\n\nChinese video streaming platform Bilibili Inc. has received the green light from the Hong Kong stock exchange for its proposed second listing, people familiar with the matter said.\nThe U.S.-listed technology firm could raise about $3 billion from the share sale, the people said, asking not to be identified as the information is private.\nDetails of the offering are not final and could change, the people said. A representative for Bilibili didn’t immediately respond to requests for comment.\nThe approval was previously reported by IFR, which said the share sale could launch as soon as next week.\nBilibili would join a rapidly expanding group of Chinese companies seeking a trading foothold in Hong Kong, pressured by tensions between China and the U.S. and beckoned by the Asian financial center’s increasingly hot market for new listings.\nProspective entrants include online car-sales website Autohome Inc. and search giant Baidu Inc. after a wave of such share sales in 2020 which saw some $17 billion raised. Tencent Music Entertainment Group. is also looking at selling shares in the city.\nBilibili, whose backers include Tencent Holdings Ltd., Alibaba Group Holding Ltd. and Sony Corp., started in 2009 as a website serving up Japanese animation to eager young viewers in China. It has broadened its offering to become a platform incorporating anime as well as comics and mobile videogames, generating revenue from advertising, live-streaming and premium memberships.\nCompanies like Bilibili benefited in 2020 from consumers trapped in their homes by the coronavirus pandemic. The entertainment platform had 202 million average monthly active users in the fourth quarter of 2020, a 55% increase over the same period in 2019.\nBilibili’s 2018 initial public offering in New York raised $483 million and made chief executive officer Chen Rui a billionaire, according to the Bloomberg Billionaires Index. Its American depositary shares have risen more than ninefold from their original offer price of $11.50, closing at $110.44 each on Thursday and giving the firm a market value of $39 billion.\nIn the last quarter of 2020, the company posted a net loss of 827.8 million yuan ($127.6 million), widening from 382.8 million yuan in the same period a year earlier. Meanwhile its sales jumped 91% to 3.8 billion yuan.\nGoldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and UBS Group AG are leading the deal.","news_type":1},"isVote":1,"tweetType":1,"viewCount":145,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":5,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}