Investing.com-- Kuaishou Technology's (HK:1024) Kling AI video platform has selected banks for a Hong Kong initial public offering that could raise at least $1 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Kling is working with China International Capital Corp (HK:3908), Goldman Sachs (NYSE:GS) and UBS Group (NYSE:UBS) on the potential share sale and is targeting a listing as soon as next year, the report said.
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Discussions remain ongoing and the size and timing of the offering could change, Bloomberg reported.
Hong Kong-listed Kuaishou shares rose 3% to HK$30.38 by 03:57 GMT on Tuesday.
Kling, launched in 2024, raised $2.8 billion in July from investors including Alibaba Group, Tencent Holdings and Baidu, valuing the company at about $15 billion before the funding, according to Bloomberg.
The planned listing comes as Chinese AI video platforms seek to capitalize on growing demand and a revival in Hong Kong IPO activity.
Original Article
Kuaishou's Kling AI targets Hong Kong IPO, may raise at least $1 bln - Bloomberg
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