Institutional investors are buying Kuaishou Technology’s Hong Kong shares before its Friday debut at a significant premium to the listing price, underscoring the high level of demand for the world’s biggest internet initial public offering in two years.
Some trades were executed for HK$250 apiece in grey-market trading on Monday, according to people familiar with the matter, who asked not to be identified as they are not authorised to speak to the media. That’s more than double the listing price of HK$115 and a bigger premium than the 50% jump on Ant’s planned Hong Kong offering before it was scrapped...
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