NetEase wins $2.7bn from HK secondary listing

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By Jonathan Breen
05 Jun 2020

Chinese online game developer NetEase has raised HK$21.1bn ($2.7bn) from its secondary offering in Hong Kong, riding on strong investor support for its listing, according to a senior banker on the deal.

The Nasdaq-listed company, working with a 13-strong syndicate, wrapped up a four-day bookbuild on Thursday. Its offer comprised 171.5m primary shares and a 15% greenshoe.

After US markets closed on Thursday, the deal’s sponsors CICC, Credit Suisse and JP Morgan worked on pricing the float. The international and local ...

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