Kuaishou's Kling AI picks banks for Hong Kong IPO targeting $1B

Kling AI, Kuaishou's AI video-generation unit, has selected banks for a Hong Kong IPO that could raise at least $1 billion, Bloomberg reported. A listing is targeted for as early as 2027; the company raised $2.8 billion in July at a pre-money valuation of about $15 billion.

• Hong Kong IPO could raise at least $1 billion
• Listing targeted for as early as 2027
• July round raised $2.8 billion at ~$15 billion valuation
• Investors include Alibaba, Tencent and Baidu