Video-sharing app Kuaishou makes strong debut in Hong Kong IPO

Economy

China's video-sharing app company Kuaishou Technology ended 160 percent higher than its initial public offering price of HK$115 (US$14.8) per share in its trading debut on Friday in the Hong Kong stock market. The Beijing-based company started trading at HK$338 per share and soared to an all-day high of HK$345 before closing at HK$300, with a turnover of HK$36.5 billion and market capitalization valued at HK$1.23 trillion, according to the stock exchange data. The company sold about 365 million shares at IPO, raising about US$5.4 billion from the debut, according to a company statement. The st...

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