Bilibili Rise 6% After Inclusion of Class Z Shares in Shenzhen-Hong Kong Stock Connect

By Chris Wack

Bilibili Inc. shares were up 6% at $19.69 after the company said that its class Z ordinary shares traded on The Stock Exchange of Hong Kong Ltd. have been included in the Shenzhen-Hong Kong Stock Connect and Shanghai-Hong Kong Stock Connect programs, both effective Monday.

Following its inclusion, eligible investors in the Chinese Mainland will have direct access to trading Bilibili's class Z ordinary shares.

Bilibili shares closed Thursday's session up 8%, and are down 9% in the past 12 months.

The company said last week that its fourth-quarter net loss narrowed to $217.1 million, which it attributed to solid growth in daily active users and better gross margins. Bilibili also guided for revenues to rise 10%-19% in 2023.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

03-10-23 1240ET