Kuaishou’s bankers close order book two days early as investors scramble for US$5.4 billion IPO by Tencent-backed video-app operator

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Overwhelming response to Kuaishou Technology’s US$5.4 billion Hong Kong initial public offering (IPO) prompted underwriters to close the institutional order book two days ahead of schedule, as global funds jostle for shares in the world’s second-largest short video platform.The retail portion, equivalent to 9.1 million shares or a tiny 2.5 per cent of the global offering, was overbought by 210 times on Tuesday, the first day of a weeklong subscription period ending Friday. The ratio is based on…

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