29 days ago • Posted by William Ramstein
Tencent shares rise on news of Kuaishou $5.4 billion IPO
Tencent has about a 21.6% stake in Kuaishou, the second largest operator of video service after ByteDance, and other backers include venture capital firms DCM, DST Global and Sequoia Capital China, the prospectus shows. Shares in Tencent jumped 11% and closed at an all-time high on Monday in Hong Kong. Monthly active users reached 481 million while average daily spend time crossed 100-minutes in 2021.