Bilibili set to raise $2.6 billion in Hong Kong listing: sources
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By Scott Murdoch
HONG KONG (Reuters) - Chinese online video site Bilibili Inc is set to raise HK$20.2 billion ($2.6 billion) after pricing shares in its Hong Kong secondary listing at HK$808 each, three people with direct knowledge of the matter said.
The people declined to be identified as the information had not yet been made public.
Nasdaq-listed Bilibili did not immediately respond to a request for comment.
At HK$808 ($104.06), the price is a 2.6% discount to the stock's price on Monday in the United States. One Bilibili Hong Kong share is equal to one of its American Depositary shares, according to its filings.
Bilibili sold 25 million shares in the offering and set a maximum price of HK$988 per share for retail investors.
The company, which is backed by Tencent Holdings Ltd and Alibaba Group Holdings, started as an animation site popular with teens and is expanding into areas such as documentaries, e-sports, and music videos.
It had 202 million monthly active users at the end of the December quarter which was up 55% from a year earlier, its listing documents showed.
Bilibili flagged it would use half of the cash raised to help boost user and content growth.
($1 = 7.7651 Hong Kong dollars)
(Reporting by Scott Murdoch in Hong Kong; Editing by Christopher Cushing)
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