China’s NetEase seeks to raise $2-$3 billion in Hang Seng secondary listing



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China’s NetEase seeks to raise $2-$3 billion in Hang Seng secondary listing

NetEase Inc., the Nasdaq-listed Chinese internet technology company primarily focused on a swathe of online services ranging from contents to communication to e-commerce, had been brewing off an option to raise between $2 billion to $3 billion at its secondary listing in Hong Kong stock exchange scheduled to be taken place on Monday, which in effect could become one of the largest public listing thus far this year amid a pessimistic outlook on global money markets, at least three people familiar with the subject-matter had unveiled earlier on Monday on condition of anonymity as the sources were not authorized to speak over the issue on public.

If truth is to be told, the Hang Seng secondary listing of NetEase Inc. came forth as the China-controlled island city of Hong Kong appears to be on fire over a newly inclined Chinese National security law which would allow the Mainland China’s intelligence forces to establish holdings in Hong Kong, nonetheless, an ease of global-scale lockdown alongside a drawdown of tension between Washington and Beijing over the Hong Kong bubble, could make the secondary listing of the Chinese online gamemaker for PC and mobiles, one of the largest in 2020.

NetEase seeks secondary listing in Hong Kong as US SEC to amend laws to restrict Chinese companies’ US listing

On top of that, NetEase Inc.’s secondary listing was brought into light less than a couple of weeks after the US Senate had proposed a bill to restrict Chinese companies’ listings in the US stock exchanges, while several analysts were quoted saying that the latest US move to prevent Chinese companies from raising funds in US public listings could lead to a number of secondary listings in the Hang Seng this year.

Meanwhile, as China’s JD.com has been set to follow the NetEase Inc. move to go through a secondary listing in the Hong Kong stock exchange amid escalating tension between the world’s first- and second-largest economy, NetEase Inc.

had warned its investors about its filings to the Hong Kong Stock Exchange saying that the proposed US Senate bill could force a number of Chinese companies to delist their stocks from US stock exchanges. Nonetheless, NetEase Inc. had declined to comment over its secondary listing in the Hang Seng while being asked over the feasibility of the issue.