(Bloomberg) Kuaishou Technology surged in Hong Kong’s gray market trading, in a sign that one of the city’s biggest initial public offerings in years is off to a good start.

• The short-video startup, backed by Tencent Holdings Ltd., advanced by as much as 181% to HK$322.80 on Thursday on an over-the-counter retail platform operated by Phillip Securities Group.
• If the stock rises by as much during its debut on Friday, it would become the second-best debut for an IPO over $1 billion in Hong Kong on record.
• Kuaishou’s shares were more than 1,200 times covered in the retail segment.
• The technology company received about 1.4 million applications from local investors, meaning that one of every five people in the city subscribed to buy shares.

source: https://www.bloomberg.com/news/articles/2021-02-04/kuaishou-technology-surges-142-in-hong-kong-gray-market-trading