Chinese video platform Bilibili to continue dual primary listing in Hong Kong

Bilibili’s share price soared after the Chinese video platform’s board approved Bilibili’s motion to apply for a voluntary conversion to a dual listing at the main board of the Hong Stock Exchange Kong

Shares of Bilibili (9626: HK) were trading at 208.40 HKD (27.83 USD) at the close of trading yesterday, up more than 47%, from their 52-week low of 14, $93 on Monday, after the company announced a motion to continue volunteering. conversion to dual primary listing on the main board of the Hong Kong Stock Exchange.

Dual listing refers to the listing of a company on two different stock exchanges. This movement can theoretically propel the company’s bid and ask price by increasing its liquidity and access to capital.

Bilibili, one of the largest video-sharing sites in China, generates revenue through mobile games and the sale of virtual gifts to users who then give them to their favorite streamers.

After the primary conversion, Bilibili will become a dual-listed company on the HKEX Motherboard and the Nasdaq Global Select Market, with the stock price on two different exchanges being exactly the same after taking the exchange rate into account.

After its Nasdaq IPO in March 2018, Bilibili proceeded to a secondary listing in Hong Kong last year, following other U.S.-listed Chinese companies like Alibaba and JD.com. However, since the secondary listing, its shares in the two offshore markets have plunged more than 70% in the past six months.

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