Huatai Financial Assists NetEase’s Secondary Listing on HKEX Main Board

On June 11th, 2020, Netease (9999.HK) was listed on the Main Board of Hong Kong Stock Exchange. Pricing the share at HK$123, NetEase raised HK$21.09 billion with its issuance of 171,480,000 new ordinary shares (before the exercise of the over-allotment option).

Huatai International was the Joint Bookrunner for the deal. The Hong Kong Public Offering had been subscribed by 360.5 times, making NetEase become the second Chinese Internet Giant listed in Hong Kong capital market in the way of the secondary listing since the revision of Listing Rules by Hong Kong Stock Exchange. The oversubscription has triggered a full clawback mechanism.

NetEase, a leading internet technology company, has been listed on the Nasdaq since 2000. It has been dedicated to building an online ecosystem centered on content, community, communication, and commerce. After achieving success in the PC and mobile game market in China, NetEase is expanding rapidly into other international markets such as Japan and North America. In addition to its self-developed games, NetEase also offers other innovative services, including the intelligent learning services, Youdao, music streaming platform, NetEase Cloud Music, and the e-commerce platform, Yanxuan.