[ET Net News Agency, 26 January 2021] Kuaishou Technology (01024), a leading content
community and social platform, today said it intends to offer 365.22 million shares
(subject to the over-allotment option), of which 356.09 million shares will be for
international offering and 9.13 million shares will be for Hong Kong public offering.
Indicative Offer Price ranges between HK$105 and HK$115 per share. Assuming the
over-allotment option is not exercised and an offer price is set at HK$110 per share
(being the mid-point of the offer price range), the estimated net proceeds from the global
offering will amount to HK$39,477.4 million after deducting underwriting commissions and
other estimated expenses in connection with the global offering.
The Hong Kong public offering began this morning and will end at noon on 29 January. The
final offer price and allocation results will be announced on 4 February. Dealing in
Kuaishou's Class B shares will commence on the main board of HKEX on 5 February.
Morgan Stanley Asia, Merrill Lynch Far East, and China Renaissance Securities (Hong
Kong) are the Joint Sponsors. Morgan Stanley Asia, Merrill Lynch (Asia Pacific) and China
Renaissance Securities (Hong Kong) are the Joint Global Coordinators. Morgan Stanley Asia,
(in relation to Hong Kong public offering only), Morgan Stanley & Co. International plc
(in relation to international offering only), Merrill Lynch (Asia Pacific), China
Renaissance Securities (Hong Kong), The Hongkong and Shanghai Banking Corporation, ICBC
International Capital (Joint Bookrunner only), ICBC International Securities (Joint Lead
Manager only), Haitong International Securities Company, CMB International Capital, BOCI
Asia and Futu Securities International (Hong Kong) are the Joint Bookrunners and Joint
Lead Managers of the listing. (KL)