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IPO

TikTok rival Kuaishou takes market cap crown among new IPOs

Chinese names take nine of top 10 spots in Asia, with Coupang sole exception

TOKYO/PALO ALTO, U.S. -- Chinese viral video platform Kuaishou Technology ranks as the most valuable company that listed in the past year, with a market capitalization of roughly $110 billion despite a 30% drop since its initial public offering, Nikkei research shows.

That makes Kuaishou more valuable than Airbnb, which leads newly listed U.S. and European companies at around $92 billion. Data warehousing provider Snowflake, online game platform Roblox and food delivery service DoorDash also trail the TikTok rival.

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