Patrick Frater Asia Bureau ChiefShares in NetEase made a strong start in Hong Kong, where they began trading on Thursday. The Chinese company is the world’s second largest games firm by revenue.The company is already listed in on the U.S.’s NASDAQ market.
The secondary listing in Hong Kong gives it wider access to capital markets should the cold war between the U.S. and China lead to the delisting of Chinese firms.
NetEase also raised $2.7 billion of fresh capital from the share sale, which saw the retail portion 360x subscribed.Shares were offered in Hong Kong at HK123 apiece.
By the lunchtime trading halt in Hong Kong, they had risen by 8% to HK132.90.Last year e-commerce giant Alibaba made a similar move to add a Hong Kong secondary.
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.