- Bilibili is looking to raise over $2 billion in a second listing in Hong Kong.
- The video-sharing platform is shelling 25 million shares as part of the offering.
- The platform has nearly 200 million monthly users and offers a broad range of entertainment.
Chinese video-sharing platform Bilibili is looking to raise up to $3.2 billion in a second listing in Hong Kong, the company said Wednesday, becoming the latest Chinese firm to seek a foothold in the city.
Bilibili, which is Nasdaq-listed, is selling 25 million shares as part of the offering, at a maximum price of HK$988 ($127.2) per share for the part of the deal reserved for Hong Kong retail investors.
The offering initially comprises 750 000 shares for retail investors, with the rest for institutional investors.
Bilibili listed on New York's Nasdaq in 2018, and has nearly 200 million monthly users, most of whom are young people drawn to its broad range of entertainment such as mobile games and live shows.
A wave of Chinese companies have turned to Hong Kong for listings, with tensions high between Washington and Beijing.
Less than a week ago, search engine company Baidu said it was seeking as much as $3.6 billion in a secondary listing in Hong Kong.
Tech giant JD.com raised almost $4 billion in a Hong Kong offering last year.
Both companies are also Nasdaq-listed.
On Wednesday, Bilibili said it planned to price its offering on 23 March.
Proceeds will go towards supporting user growth, content, and research and development to improve user experience, it said.
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