Kling AI, under Kuaishou, reportedly picks banks for Hong Kong IPO to raise at least $1 billion
Deep News
Oct 06
According to people familiar with the matter, Kling AI, an artificial intelligence unit owned by Kuaishou Technology (ASX: 01024), has selected banks to prepare for an initial public offering in Hong Kong that could raise at least $1 billion.
The AI video generation service provider is working with China International Capital Corporation, Goldman Sachs, and UBS on the potential share sale, with a target to list as early as next year, the people said.
The discussions are still ongoing, and details such as the size of the fundraising and the timing of the listing may change, the people added.
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