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Bloomberg
Bilibili Inc., China’s top online platform for streaming animation, is poised to raise $483 million in its US initial public offering, according to people with knowledge of the matter.
The website operator plans to price its sale of 42 million American depository shares at $11.50 apiece, the midpoint of a marketed range, the people said, asking not to be identified because the information is private. The shares were offered at $10.50 to $12.50 each, according to an earlier regulatory filing.
Bilibili is completing its listing amid volatility in the US stock market, where the benchmark S&P 500 Index is trading down about 9 percent from its all-time high in January. Chinese hotel operator GreenTree Hospitality Group Ltd. priced its US IPO below a marketed range earlier this week, after cutting the amount of shares due to market volatility.
A spokeswoman for Bilibili didn’t immediately respond to requests for comment.
Bilibili hosts Japanese anime titles including “Boruto: Naruto Next Generations,†based on a sequel to the New York Times bestselling manga series about ninjas that teleport across dimensions.
In the fourth quarter in 2017, the company had 71.8 million average monthly active users, the regulatory filing shows. About 82 percent of Bilibili’s users were born in China from 1990 to 2009, according to QuestMobile data cited in the filing.
Shanghai-based Bilibili reported a 571.5 million yuan ($91 million) net loss in 2017, compared with a 1.19 billion yuan loss in 2016. Morgan Stanley, Bank of America Corp. and JPMorgan Chase & Co. are arranging the company’s offering.