Kuaishou's Kling AI Said to Select Banks for Hong Kong IPO, Plans to Raise at Least $1 Billion

Kuaishou Technology's Kling AI has selected banks to prepare for a Hong Kong initial public offering that could raise at least $1 billion, according to people familiar with the matter. The artificial intelligence video-generation service provider is working with China International Capital Corp., Goldman Sachs Group Inc. and UBS Group AG on the potential share sale, the people said, targeting a listing as soon as next year. Discussions are ongoing and details such as the size and timing could change, the people said.