Tencent-backed Kuaishou files for Hong Kong IPO

Chinese video-sharing mobile app Kuaishou has filed a preliminary prospectus with the Stock Exchange of Hong Kong, signaling its preparations for an initial public offering in the city. The company, however, disclosed neither a specific timetable nor the size of its financial debut. Just last month, it was reported that Kuaishou is looking to raise up to US$5 billion in its public listing, which may come as early as January. Kuaishou founders Su Hua (left) and Cheng Yixiao / Photo credit: Kuaishou In the prospectus, Kuaishou disclosed that its revenue for the first half of 2020 increased to 25.3 billion…