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Kuaishou doubles its appeal when in the grey zoneINTL

Kuaishou doubles its appeal when in the grey zone

Kuaishou Technology is trading two times its IPO price on the grey market before its Friday debut.

There are reports that deals have been executed for HK$250 per share in the grey market, significantly more than (in fact, more than twice) its listing price of HK$115.

Kuaishou is an up-and-coming rival to ByteDance, which owns TikTok. If the grey market indicators are anything to go by, the company may well be sending ByteDance backstage to work on its moves.

why it matters
The grey market is a crude indicator of investor demand for IPO shares and often acts as a price discovery mechanism prior to actual trading. If Kuaishou's shares actually inflate as much on Friday, it will be a testament to the enormous demand for shares of short-video apps.