Chinese online entertainment platform Bilibili files for US IPO

Chinese online entertainment platform Bilibili has filed for an initial public offering (IPO) of 400 million US dollars with the US Securities and Exchange Commission.

The Shanghai-based company plans to list on the New York Stock Exchange under the symbol BILI, according to the prospectus filed on Friday.

The prospectus gave no details on pricing terms or the number of shares to be listed.

Bilibili is an online entertainment platform covering video, live broadcasting and mobile games. The company's annual revenue surged by 372 percent year-on-year in 2017, expanding from a 299-percent jump in 2016.

The platform had 71.8 million average monthly active users as of the fourth quarter of 2017. Some 81.7 percent of its users are those born between 1990 and 2009.

(ASIA PACIFIC DAILY)