Hong Kong retail investors amass $50b in loans for IPO of Kuaishou Technology

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

Hong Kong’s mom-and-pop investors have amassed over $50 billion in margin financing to buy shares in the initial public offering of China’s Kuaishou Technology, defying concerns about a pullback in global markets fuelled by a retail buying frenzy.

Online video site Kuaishou, which aims to raise up to $5.4 billion in the city’s largest float in more than a year, is set to price shares at the top of the $HK105-$HK115 marketing range on Friday, according to two sources with direct knowledge of the matter.

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