{"id":185397,"date":"2021-01-24T09:12:25","date_gmt":"2021-01-24T09:12:25","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=185397"},"modified":"2021-01-24T09:12:33","modified_gmt":"2021-01-24T09:12:33","slug":"abu-dhabi-blackrock-participate-in-kwaishos-ipo","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/abu-dhabi-blackrock-participate-in-kwaishos-ipo\/","title":{"rendered":"Abu Dhabi, BlackRock participate in Kwaisho’s IPO"},"content":{"rendered":"\n

The Abu Dhabi Investment Authority, in partnership with BlackRock, intends to enter as major investors in the Chinese start-up Kwaisho’s Technology<\/a> IPO.<\/p>\n\n\n\n

The Capital Group and the Canadian Pension Plan Investment Board also intend to participate.<\/p>\n\n\n\n

The short-video company offering is scheduled to start receiving subscription applications on Monday, aiming at rasing $6 billion.<\/p>\n\n\n\n

Sources said Kwaisho seeks to allocate $2.5 billion for the benefit of ten major shareholders. Fidelity, China’s Boyo Capital and Morgan Stanley Asset Management have agreed to participate in purchasing shares.<\/p>\n\n\n\n

The two Singaporean government investment companies GIC Pte and Temasek Holdings Pte are separately studying the possibility of participation.<\/p>\n\n\n\n

The second-largest IPO<\/strong><\/h5>\n\n\n\n

Kwaisho’s IPO, if successful, would be the would become the second-largest tech company IPO in the world after the Uber, which raised about $8.1 billion in May 2019.<\/p>\n\n\n\n

The Chinese company, whose name means “fast hand”, is the main domestic competitor to TikTok owner ByteDance Ltd.<\/p>\n\n\n\n

The Kwaisho is very popular among small towns and rural areas’ users.<\/p>\n\n\n\n

Corn harvest and eating noodles are the dominant features of daily life in these poor areas.<\/p>\n\n\n\n

More recently, Kwaisho expanded into urban areas and major cities. The company now offers video games and acting scenes against pop songs’ background.<\/p>\n\n\n\n

Some changes<\/strong><\/h5>\n\n\n\n

Cornerstone buyers typically agree to hold stock for a set period in exchange for early, guaranteed allocation. <\/p>\n\n\n\n

Kuaishou is still finalizing terms of the offering, and details could change, the people said.<\/p>\n\n\n\n

Representatives for Kuaishou, ADIA, Capital Group, CPPIB, Morgan Stanley and Temasek declined to comment. <\/p>\n\n\n\n

Spokespeople for BlackRock, Fidelity and GIC couldn’t be reached or said they couldn’t immediately comment. <\/p>\n\n\n\n

A call to Boyu’s Hong Kong office wasn’t answered outside regular business hours.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Related:<\/strong><\/p>\n\n\n\n

EIB And Banque Misr Agree To Support Private Sector<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Abu Dhabi Investment Authority, in partnership with BlackRock, intends to enter as major investors in the Chinese start-up Kwaisho’s Technology IPO. The Capital Group and the Canadian Pension Plan Investment Board also intend to participate. The short-video company offering is scheduled to start receiving subscription applications on Monday, aiming at rasing $6 billion. Sources […]<\/p>\n","protected":false},"author":4,"featured_media":185398,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[925,278,926],"class_list":["post-185397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-abu-dhabi","tag-featured","tag-kwaisho"],"yoast_head":"\nAbu Dhabi, BlackRock participate in Kwaisho's IPO - Bnreport<\/title>\n<meta name=\"description\" content=\"Bnreport - Business The Abu Dhabi Investment Authority and BlackRock intend be major investors in the Chinese start-up Kwaisho's IPO.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/abu-dhabi-blackrock-participate-in-kwaishos-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abu Dhabi, BlackRock participate in Kwaisho's IPO - 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