Chinese Internet giant NetEase has publicly announced the details for its listing on the Hong Kong Stock Exchange (HKSE).
NetEase announced on 2 June that it hopes to raise up to HKD$12.6 billion (approx. USD$1.63 billion) on 11 June 2020 from the issue of 171 million new shares via a secondary Hong Kong listing.
CICC, Credit Suisse Group and JPMorgan Chase will serve as underwriters for the listing.
Bloomberg previously reported that Nasdaq-listed NetEase had already started to accept subscription applications from investors for its Hong Kong secondary listing, and that this stock issuance could raise up to $2.6 billion.
NetEase was founded in 1997 by Zhejiang tech entrepreneur Ding Lei (丁磊), focusing first on search engine technology as well as massively multiplayer online role-playing games (MMORPG).
The company listed on the Nasdaq exchange in 2000, and has since become one of the world’s biggest Internet and gaming concerns.