Mobile-gaming group NetEase Inc. will start taking investor orders later Monday for a multibillion-dollar Hong Kong share sale, individuals aware of the matter mentioned, as momentum builds for U.S.-listed Chinese language teams to acquire secondary listings nearer to residence.
The Nasdaq-listed group’s deliberate secondary providing in Hong Kong comes after a roughly $13 billion Hong Kong debut by Alibaba Group Holding Ltd. BABA 3.96% final yr, and is likely to be followed by one other inventory sale within the metropolis by Chinese language e-commerce group JD.com Inc. JD 6.49%
NetEase and JD.com are pursuing Hong Kong listings as U.S. lawmakers push for greater financial scrutiny of Chinese companies who commerce on American exchanges.
NetEase plans to promote shares at a most supply value of HK$126 every ($16.25), the individuals mentioned. In whole, the online-gaming firm goals to promote 171 million new shares, one of many individuals mentioned.