NetEase Hopes to Raise up to HKD$12.6 Billion via Mid-June Listing in Hong Kong

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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. 

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