Chinese video site Bilibili is considering a secondary listing in Hong Kong, Reuters reported on Thursday citing two people with direct knowledge of the matter.
The company, which is backed by Chinese tech giants Tencent and Alibaba and went public on Nasdaq in March 2018, has held preliminary talks with investment banks about the Hong Kong listing prospect, the report said.
Bilibili is mulling selling between 5% and 10% of its shares, one of sources said. It was not immediately clear how much the company is aiming to raise as the talks are in early stages.
Bilibili is seen as China's YouTube that has a market capitalization of $16.2 billion.
Bilibili will only be able to list in Hong Kong next year, the people said, as under the city's listing rules, it has to have a track record of at least two financial years of good regulatory compliance on another qualifying exchange.
