Chinese video site Bilibili prepares Hong Kong IPO of up to $1.5bn

Nasdaq-listed streaming platform hires banks as it plans for secondary listing

Two cosplayers dressed as Bilibili mascots. The company, founded in 2009, is one of the largest video-sharing platforms in China, with a monthly active user base of more than 170 million. © AP

NARAYANAN SOMASUNDARAM and NIKKI SUN, Nikkei staff writers

October 6, 2020 19:20 JST

HONG KONG -- Bilibili, a Nasdaq-listed Chinese video platform popular with millennials for its animation and gaming content, is moving ahead with plans for a secondary listing in Hong Kong next year that could raise as much as $1.5 billion, two people familiar with the situation said.

The company, which counts Tencent Holdings, Alibaba Group Holding and Sony as investors, has hired UBS, JPMorgan, Goldman Sachs and Morgan Stanley to arrange the offering, the two sources said.