Bilibili’s opening value fell slightly more than 6% in the first operations after the company raised about $2. 6 billion in a secondary directory on the Hong Kong Stock Exchange.
For more than 18 months, Hong Kong has noticed a wave of Chinese-generation corporations making initial public offerings in the city as a component of a crusade to approach the house as the deterioration between Beijing and Washington.
Last year, Hong Kong raised the impressive $49 billion in IPO with announcements of incredible moments such as JD. com and NetEase.
China’s yields continued in 2021, with less enthusiasm from investors.
Hong Kong’s deyet of Chinese search engine Baidu grossed $3. 1 billion in its IPO last week, but its shares ended unchanged on opening day and have since sunk by 15%.
Tensions between the United States and China remain at the forefront of investor nervousness.
Last week, U. S. regulators announced plans to force Chinese corporations to adhere more strictly to their audit rules, raising considerations about cancellations in the United States and a global sale of Chinese-generated shares.
Bilibili is already indexed in New York.
It is a fast-growing video stream with about two hundred million chinese young users for the most part.
Often referred to as “YouTube China,” users download and share videos with voiceovers and added music, and host a significant amount of user-generated content.
Founded in 2009 through Xu Yi, a 20-year-old student at the time, it began primarily as a content collection and sharing position for game and anime fans, but has since spread among Chinese Generation Z users.
Bilibili’s leading executive, Chen Rui, downplayed short-term market value declines, and called his company an online page in a position to exploit nearly one billion Chinese Internet users.
“We wouldn’t worry too much about the short-term functionality of the stock market,” the 43-year-old billionaire told Bloomberg Television in what the channel said in its first interview with foreign media.
“No one will if their inventory has increased or decreased when it starts in 10 years. “
Chen has been noted as the real driving force of Bilibili’s good fortune in recent years, persuading Chinese generation rivals Tencent and Alibaba to register as early investors as well as Sony.
The videos “will be a major trend for the Internet for the next 3 to five years,” Chen told Bloomberg.