Tiktok rival Kuaishou surges 160% in $5.3 billion Hong Kong debut

February 4, 2021

Shares of Chinese short video company Kuaishou rose nearly 200% at the open on its debut in Hong Kong. The technology firm raised 41.28 billion Hong Kong dollars ($5.32 billion) from the initial public offering (IPO) after pricing its shares at 115 Hong Kong dollars each, at the top of its expected range. Kuaishou shares opened up at 338 Hong Kong dollars. The stock later slipped from those highs but still ended the day 160% higher, closing at 300 Hong Kong dollars a share.