NetEase Cloud Village Stock Slips 2.5% Following Hong Kong IPO

Chinese music streaming company Cloud Village finally had its initial public stock offering on the Hong Kong Stock Exchange on Thursday after postponing its plans in August amid a Chinese regulatory crackdown.

Tech giant NetEase spun off the company, which runs NetEase Cloud Music, in an offering of 16 million shares — 7.7% of the outstanding shares — that raised 41.5 billion Hong Kong dollars .for the spin-off on Aug. 2 but delayed the listing indefinitely about a week later after Beijing’s tightening regulations brought attention to publicly traded Chinese companies. Cloud-based tech companies in particular have faced new regulations on data privacy.

But NetEase restarted the IPO on Nov. 22 with a target price range of 190 Hong Kong dollars to 220 Hong Kong dollars per share. The 205 Hong Kong dollars IPO price was a fair estimate of market sentiment considering 49% of all 2021 IPOs in London, Hong Kong, India and New York are currently underwater,NetEase Cloud Music had 185 million monthly average users and 26 million subscribers as of June 30, the latest date the data was available.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Didi says it will delist from the New York Stock Exchange and prepare to list in Hong KongChinese ride-hailing giant Didi said Friday that it will start delisting from the New York Stock Exchange, and make plans to list in Hong Kong instead. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ Where is Cramer? Boy oh boy
Source: CNBC - 🏆 12. / 72 Read more »

Didi to delist from NYSE and move to Hong Hong Stock ExchangeInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. 100x on KingFlokiToken For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ 中国骑着冰雹巨人滴滴从纽约证券交易所退市并迁往香港证券交易所
Source: BusinessInsider - 🏆 729. / 51 Read more »

CJ ENM Hong Kong Launches Two Taiwan Drama Series at ATFCJ ENM Hong Kong, the Chinese-language offshoot of the South Korean media giant CJ ENM, is launching two Taiwanese series at the virtual ATF in Singapore. “The Amazing Grace of Sigma” is a 12-part …
Source: Variety - 🏆 108. / 63 Read more »

U.S. and China top military officials set to meet over increasing arms raceHong Kong's South China Morning Post reported that talks were agreed on during last month's highly watched summit between Joe Biden and Xi Jinping.
Source: Newsweek - 🏆 468. / 52 Read more »

Omicron clouds outlook for international travel that was just turning a cornerThe U.S., U.K., and other nations have revived travel restrictions just as demand was recovering. The Omicron gives mild or no symptoms, what is so scary about that? Only because it is related to COVID? 🤡
Source: CNBC - 🏆 12. / 72 Read more »

UTA’s Gaming-Focused SPAC Sets IPO, Aiming To Raise $200 MillionUTA has become the latest talent agency to play in the public markets, forming a special-purpose acquisition company that will start trading tomorrow on the NASDAQ. Under the ticker symbol “U…
Source: DEADLINE - 🏆 109. / 63 Read more »