Two of China’s internet giants, microblogging platform Weibo and the NetEase-backed music streaming site Cloud Village, have set their sights on raising close to $1 billion between them in initial public offerings on the Hong Kong Stock Exchange, reports the South China Morning Post.
Weibo, often dubbed the Twitter of China, is selling 11 million shares at a maximum price of HK$388 each ($49.75), which could help it raise up to $547.3 million ahead of what would be its secondary listing on Hong Kong’s main board.
Meanwhile, Cloud Village has priced its Hong Kong IPO at HK$205 ($26.29) per share, helping it to raise about $421 million.
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