Chinese video platform Kuaishou unveils price range of IPO

The price of Beijing Kuaishou Technology Ltd.'s planned IPO of about 365.2 million of shares will be between HK$105 and HK$115 apiece, according to a Jan. 26 announcement.

Of the total shares, about 356,088,100 shares will be allocated for international offering, and 9,130,500 shares will be for Hong Kong public offering.

The offering began on Jan. 26 at 9 a.m. Hong Kong time and will end Jan. 29 at 12 p.m. Hong Kong time.

Kuaishou's Class B shares, which will be traded in board lots of 100 shares each, will be listed on the main of the Stock Exchange of Hong Kong on Feb. 5 under the stock code 1024.

The company plans to use the proceeds from the offering to grow its ecosystem, for its research and development and technological capabilities, for acquisitions or investments, and for working capital and general corporate purposes.

Morgan Stanley Asia Ltd., Merrill Lynch Far East Ltd. and China Renaissance Securities (Hong Kong) Ltd. are the joint sponsors for the offering. Morgan Stanley Asia, Merrill Lynch (Asia Pacific) Ltd. and China Renaissance Securities (Hong Kong) are the joint global coordinators.

Merrill Lynch (Asia Pacific), China Renaissance Securities (Hong Kong), Hong Kong and Shanghai Banking Corp. Ltd., Haitong International Securities Co. Ltd., CMB International Capital Ltd, BOCI Asia Ltd. and Futu Securities International (Hong Kong) Ltd. are the joint bookrunners and joint lead managers of the listing.

ICBC International Capital Ltd. also served as joint bookrunner, while International Securities Ltd. also served as joint lead manager.

Morgan Stanley Asia also served as a joint bookrunner and joint lead manager for the Hong Kong offering specifically, while Morgan Stanley & Co. International PLC served as a joint bookrunner and joint lead manager specifically for the international offering.