Chinese online entertainment platform Bilibili files for US IPO

SHANGHAI (XINHUA) - Chinese online entertainment platform Bilibili has filed for an initial public offering (IPO) of US$400 million (S$527.8 million) 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 372 per cent year on year in 2017, expanding from a 299-per cent jump in 2016.

The platform had 71.8 million average monthly active users as of the fourth quarter of 2017. Some 81.7 per cent of its users were Chinese born from 1990 to 2009.