HONG KONG: Chinese online gaming firm Netease raised at least US$2.7 billion in a Hong Kong secondary offering after pricing its shares at HKUS$123 each, according to two sources with direct knowledge of the matter.
The company had planned to sell 171.48 million shares, according to an earlier term sheet, and has the option of selling another 25.72 million shares, under a so-called 'greenshoe' option.The Hong Kong price is equivalent to US$396.70 for Netease's U.S.-listed shares which is a 2per cent discount to the stock's last closing price of US$405.01 on Thursday.
Under the terms of the deal, one American depository receipt is worth 25 of the company's Hong Kong shares. In its earlier regulatory filings, Netease said it planned to use the money raised in its Hong Kong listing to fund its international expansion plans. Netease's deal is expected to be one of several large secondary deals in Hong Kong this year, after the U.S. administration questioned whether Chinese companies should be able to list in New York as tensions with Beijing rise.Chinese e-commerce company JD.com is due to launch its Hong Kong listing as early as Friday, according to sources with knowledge of the matter, to sell up to 5per cent of its stock to raise at least US$3 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netease raises at least $3.8 billion in Hong Kong listing, sources sayHONG KONG (REUTERS) - Chinese online gaming firm Netease raised at least US$2.7 billion ($3.8 billion) in a Hong Kong secondary offering after pricing its shares at HK$123 each, according to two sources with direct knowledge of the matter.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Hong Kong: Stocks extend gains to fourth day[HONG KONG] Hong Kong stocks rose for a fourth straight day Thursday as the easing of lockdown measures around the world continued to trump concerns about China-US tensions. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
UK talks to 'Five Eyes' allies about potential Hong Kong exodusLONDON (AFP) - Britain's foreign minister said he has spoken to 'Five Eyes' allies about potentially opening their doors to Hong Kongers if Beijing's plans to impose a national security law on the city sparks an exodus.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Hong Kong protesters defy ban, rally to remember TiananmenTens of thousands of people across Hong Kong lit candles and chanted democracy slogans on Thursday to commemorate China's deadly Tiananmen crackdown, defying a ban against gathering as tensions seethed over a planned new security law. The biggest crowds descended on Victoria Park that has hosted
Source: YahooSG - 🏆 3. / 71 Read more »
Thousands in Hong Kong defy ban on Tiananmen vigilHONG KONG: Thousands of Hong Kong protesters lit candles and chanted democracy slogans as they defied a ban on Thursday (Jun 4) against gathering ... 6431truth NeverForget TiananmenSquareMassacre StandWithHongKong Ouch HongKong govt Carrielam
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US firms concerned as tensions simmer in Hong Kong over looming legislationA survey of U.S. businesses on Wednesday revealed deep fears for the future of their operations in Hong Kong if China imposes national security ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »