HONG KONG -- Retail investors in Hong Kong are bidding for shares of Chinese short-video platform Kuaishou Technology at a premium of as much as 266% ahead of its market debut on Friday, underscoring the enormous appetite that saw the company break IPO subscription records.
The shares touched HK$322.80 on the gray-market platform run by Phillip Securities Group and HK$421 at Futu Securities, an online brokerage backed by Tencent Holdings, early Thursday evening. That compares with the stock's issue price of HK$115, the top end of the range at which they were marketed.
