Kuaishou exercises over-allotment optionBusiness | Avery Chen 8 Feb 2021
China's No 2 short video platform, Kuaishou Technology (1024) raised another HK$5.75 billion after exercising the over-allotment option, lifting its initial public offering size to HK$47 billion.
International underwriters of the public sales fully exercised the over-allotment option involving 54.78 million class B shares, representing 15 percent of shares initially available. Among the option shares, 50.74 million are new shares, 2.25 million shares will be sold and transferred by Su Hua, co-founder, chairman, and chief executive, while 1.8 million shares are from co-founder and chief product officer Cheng Yixiao. The selling price is HK$115.
In other news, MicroPort CardioFlow Medtech Corporation (2160), a spinoff of Microport Scientific (0853), raised a further HK$361.2 million after fully exercising the over-allotment option. The company raised HK$2.72 billion from its IPO.