Tencent-backed Kuaishou's IPO overbought 1,200 times by retail investors, sets record | South China Morning Post

Retail tranche more than 1,200 times oversubscribed, Kuaishou's Hong Kong IPO, topped demand for beverage giant Nongfu Spring's IPO Kuaishou marketed its IPO in a range of HK$105 to HK$115 a share Kuaishou Tech's IPO sets record as the most oversubscribed IPO in terms of retail demand, at over 1,200 times. Tencent-backed Kuaishou Technology's IPO which aims to raise US$5.4 billion looks poised to set a record as the most oversubscribed deal ever in Hong Kong, after receiving orders from retail investors totalling HK$1.28 trillion (US$164.8 billion), according to preliminary data provided by people familiar with the transaction. Kuaishou's public…