(Yicai Global) Jan. 5 -- Bilibili declined to comment on a report that said the popular Chinese video sharing app is getting ready to file for a secondary listing in Hong Kong that could raise over USD2 billion, according to financial news outlet Caijing.

China’s version of Youtube has upped its fundraising target to USD2 billion from USD1.5 billion, US business news channel CNBC reported today, citing an unidentified source close to the matter.

The Shanghai-based firm, whose Nasdaq-listed shares [NASDAQ: BILI] more than quadrupled in value last year, will likely file as soon as the end of this week or early next week, CNBC said.

Shares of Bilibili surged 10.5 percent yesterday to USD94.74, more than eight times their 2018 offer price of USD11.50.

For the third quarter of last year, the company’s revenue jumped 74 percent to a record high CNY3.2 billion (USD495 million). Its loss nearly tripled to CNY1.1 billion as operating expenses more than doubled to CNY1.8 billion.

Editor: Kim Taylor