Chinese online short video company Kuaishou will open the books for its HK IPO next Tuesday to raise at least US$5 billion. Source say brokerage believe it will be overwhelmingly oversubscribed and a total of 155 billion HK$ or 20 billion US$ margin funding have been reserved.

Kuaishou is the second largest short video company in China, just behind Tik-Tok. Its apps feature user-uploaded videos as well as live-streaming programmes through which businesses can promote their products or services.

Kuaishou reports 60% of its income comes from the their live streaming department. That is a contested and controversial sector in which two other Chinese companies have been accused of major fraud and at which regulators are taking a closer look.

For Hong Kong's capital markets, the deal of at least US$5 billion would be a strong start in 2021, and would be the largest IPO since Budweiser Brewing Co raised US$5.75 billion in September 2019.