Kuaishou Technology shares debuted【上市】on the Hong Kong Exchange【港交所】today, breaking a record for the most over-subscribed【超额认购的】issue the market has ever seen.
As of the end of last year, China reported more than 989 million internet users【网民】, some 80 percent of them are regular viewers of short videos【短视频】. And that's what Kuaishou specializes in, so the only real surprise was that it was just the first of China's short video firms to appear on a major market. Ying Junyi has more.
Tencent-backed Kuaishou Technology shares closed at 300 Hong Kong dollars today, up significantly from its offer price【发售价】of 115 Hong Kong dollars. 1.4 million investors【投资者】had bid for the shares, resulting in a record over-subscription of more than 1,200 times.
Experts say it is Kuaishou's solid user base that enabled the company to surpass【超越】its rivals【竞争对手】and become the first-ever listed short video app company【上市公司】.
Interview (analyst)
Compared with its counterparts, Kuaishou has more loyal【忠实的】users in tier-3 cities【三线城市】. Its users also have a closer relationship with content providers【内容提供者】. Everyone can be an influencer【网络红人】on Kuaishou. It also encourages users to create content themselves, and interact with others. It's easy for fans to build close relationships.
