Kuaishou Technology’s eye-popping debut in Hong Kong on Friday following a mega $5.4 billion initial public offering has sent a strong signal to other listing candidates waiting in the wings -- that this is a great time to go public.
The operator of China’s most popular short-video service after ByteDance's Douyin saw its shares almost triple on their debut on Friday, boosting its valuation to $179bn. That puts Kuaishou’s value close to that last sought by TikTok owner, and much bigger rival, ByteDance.
The startup’s debut marks a spectacular rise for the Chinese company from the 2020 price tag of $28.6bn ascribed to it by PitchBook.
Kuaishou's IPO has buoyed the total from first-time share sales in Asia in January to $13.3bn, the highest for the first month of the year in the region on record, according to data compiled by Bloomberg. It comes as listings globally have also had a record-breaking start to the year thanks to a surge in SPAC listings, equities hitting fresh highs and hordes of retail traders flocking to markets.
Apart from setting an inviting precedent for ByteDance to take Douyin and other assets public to capitalise on booming investor demand for short-video companies, Kuaishou’s debut also paves the way for other listing hopefuls. Issuers, especially in the hot tech space, will likely want to take advantage of the current welcoming market window to float in the city.
A spate of US-traded Chinese companies listed are also set to continue the trend of secondary listings in Hong Kong. Chinese search engine giant Baidu is among those working on a share sale in the Asian financial hub that could raise at least $3.5bn, Bloomberg News has reported. Video service Bilibili, another Kuaishou rival, and Tencent Music Entertainment Group are also mulling a secondary listing in the city.
Other candidates for a Hong Kong listing sometime this year include JD.com's logistics unit, which is looking to raise about $5bn in a Hong Kong IPO, Bloomberg News reported last year.
Elsewhere in the region, the maker of Chang beer Thai Beverage said early on Friday it planned to list its brewery unit on the Singapore stock exchange, kicking off what could be the biggest IPO in the city-state in a decade.
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What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
