Tencent-backed short video firm Kuaishou files for HK IPO

FILE PHOTO: The logo of Chinese video-streaming startup Kuaishou is seen in Beijing, China May 10, 2017. Picture taken May 10, 2017. REUTERS/Stringer

Chinese online short-video company Kuaishou Technology filed for a Hong Kong initial public offering (IPO) on Thursday that could raise up to $5 billion.

The Tencent-backed start-up operates its eponymous app in China and overseas equivalents Kwai and Zynn. Its listing plans come as rival ByteDance – operator of Douyin at home and TikTok abroad – has become a target of U.S. government concern over data security.

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