Nasdaq-listed Chinese video platform Bilibili to do a secondary itemizing in Hong Kong, elevate as much as $1.5 billion

The Bilibili sales space is pictured in the course of the 2019 Yangtze River Delta International Cultural Industries Expo at National Exhibition and Convention Center on November 21, 2019 in Shanghai, China.

Gao Yuwen | Visual China Group | Getty Images

GUANGZHOU, China — Chinese video platform Bilibili is gearing up for a secondary itemizing in Hong Kong which may elevate as much as $1.5 billion, CNBC has confirmed.

Bilibili is at present listed on the Nasdaq within the U.S. The Hong Kong secondary itemizing is prone to occur subsequent 12 months, an individual aware of the matter instructed CNBC.

The video platform, which is well-liked with Chinese millennials, may elevate between $1 billion and $1.5 billion, the particular person stated.

The Nikkei Asian Review first reported the information.

Bilibili’s secondary itemizing would make it the newest in a protracted line of U.S.-listed Chinese corporations to boost cash in Hong Kong. Alibaba, JD.com and NetEase are among the many high-profile names which have carried out secondary listings in Hong Kong prior to now few months. 

Rising geopolitical tensions between the U.S. and China have threatened to spill over to Chinese corporations listed on Wall Street. Lawmakers in Washington are pushing for higher scrutiny of Chinese firms by means of proposed legislation that threatens to delist some corporations within the U.S. 

Bilibili went public on the Nasdaq in 2018 at $11.50 per American depositary share (ADS), elevating $483 million. On Thursday, Bilibili shares closed at $46.60 a bit. This 12 months alone, the corporate’s shares have risen over 150%. 

The video platform is geared toward China’s youthful generations and the corporate makes cash in quite a lot of methods. Mobile video games is its largest income driver. It additionally hosts dwell broadcasts throughout which customers can purchase digital objects. Bilibili additionally makes cash from promoting.

Second quarter income got here in at 2.6 billion yuan ($370.5 million), a 70% year-on-year improve. Bilibili has 171.6 million common month-to-month energetic customers. 

Rather than Netflix-style reveals, Bilibili depends on user-generated content material, just like YouTube. 

Bilibili has been specializing in rising its consumer base this 12 months by boosting its content material choices. In August, the corporate signed a cope with Riot Games, the proprietor of League of Legends, to broadcast their world occasions in China. 

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