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NetEase China Games Giant Confirms $3 Billion Share Sale in Hong Kong

Frater Asia China USA county Patrick Hong Kong city Hong Kong show stage social information

02.06.2020 - 12:33

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variety.com

variety.com:

By Patrick Frater Asia Bureau Chief Chinese games and social media firm NetEase is planning to raise close to $3 billion through a share sale in Hong Kong.

The company is currently listed on the U.S.’s NASDAQ exchange, and the move to create a secondary listing in Hong Kong is seen as a defensive measure, as well as a fund-raising exercise.

American legislators have called for the removal of Chinese companies from U.S. stock exchanges if they fail to meet U.S. audit standards.

The company has been grilled by Hong Kong stock regulators and filed a 455-page, heavily redacted document known as a Post Hearing Information Pack.

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