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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Tencent Holdings Limited    700   KYG875721634

TENCENT HOLDINGS LIMITED

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ByteDance rival Kuaishou files for Hong Kong IPO

11/05/2020 | 10:53am EST

(Reuters) - Chinese online short-video company Kuaishou Technology filed for a Hong Kong initial public offering (IPO) on Thursday that could raise up to $5 billion.

The Tencent-backed start-up operates its eponymous app in China and overseas equivalents Kwai and Zynn. Its listing plans come as rival ByteDance - operator of Douyin at home and TikTok abroad - has become a target of U.S. government concern over data security.

The nine-year-old company did not disclose the size, timetable or other key details of the offering in its preliminary prospectus.

People with direct knowledge of the matter have previously told https://in.reuters.com/article/us-kuaishou-ipo/bytedance-rival-kuaishou-aims-to-raise-up-to-5-billion-in-hong-kong-ipo-sources-idINKBN2680F7 Reuters that Kuaishou was aiming to raise up to $5 billion in a Hong Kong IPO as early as January, valuating the company at more than $50 billion.

In its prospectus, Kuaishou said its loss widened to 68.09 billion yuan ($10.31 billion) in the six months ended June 30, from a loss of 268.7 million yuan a year earlier.

Revenue for the half-year rose nearly 50% to 25.32 billion yuan.

The company had 485 million average monthly users (MAUs) and 258 million average daily users (DAUs) on the Kuaishou app in the period.

Morgan Stanley Asia, Merrill Lynch Far East, and China Renaissance Securities (Hong Kong) are the joint sponsors of the offering.

Kuaishou raised $3 billion late last year in a pre-IPO funding round led by the main backer Tencent.

($1 = 6.6027 Chinese yuan renminbi)

(Reporting by Arpit Nayak in Bengaluru; Editing by Aditya Soni)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHINA RENAISSANCE HOLDINGS LIMITED -0.13% 15.68 End-of-day quote.-1.13%
MORGAN STANLEY -1.61% 75.24 Delayed Quote.9.79%
TENCENT HOLDINGS LIMITED 2.46% 645 End-of-day quote.14.36%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.472 Delayed Quote.-0.48%
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Financials
Sales 2020 481 B 74 155 M 74 155 M
Net income 2020 128 B 19 769 M 19 769 M
Net cash 2020 71 070 M 10 968 M 10 968 M
P/E ratio 2020 40,7x
Yield 2020 0,25%
Capitalization 5 133 B 792 B 792 B
EV / Sales 2020 10,5x
EV / Sales 2021 8,38x
Nbr of Employees 77 592
Free-Float 60,4%
Chart TENCENT HOLDINGS LIMITED
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Tencent Holdings Limited Technical Analysis Chart | 700 | KYG875721634 | MarketScreener
Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Average target price 575,30 CNY
Last Close Price 539,04 CNY
Spread / Highest target 31,0%
Spread / Average Target 6,73%
Spread / Lowest Target -34,5%
EPS Revisions
Managers and Directors
NameTitle
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
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