NetEase ’s stock code for listing in Hong Kong is finalized: 9999.
On June 1, Netease (Nasdaq: NTES) announced the launch of the Hong Kong public offering. This issue will issue 171 million common shares, and the company ’s common shares will be in Hong Kong The main board of the Stock Exchange of Hong Kong Limited is listed under the stock code “9999.HK”.
NetEase said that American depositary shares representing the company ’s common shares (each representing 25 common shares) will continue to be listed on the NASDAQ Global Select Market transaction. Investors participating in this offering will only be able to subscribe for ordinary shares, but not American Depositary Shares. After the completion of this Hong Kong listing, the company ’s Hong Kong-listed shares and NASDAQ-listed American depositary shares will be fully convertible.
According to the level of oversubscription in the Hong Kong public offering and according to the callback mechanism, the total number of offer shares available for subscription in the Hong Kong public offering can be adjusted to a maximum of 20.58 million shares The newly issued shares accounted for about 12% of all initial offerings in this issue. In addition, the company is expected to grant an over-allotment option to international underwriters, and issue an additional maximum of 25.722 million new shares under international offerings, not exceeding 15% of all initial offerings in this offering.
The offer price of the Hong Kong public offering will not be higher than HK $ 126.00 per offer share (“Highest Offer Price”). The offering price of the international offering of this offering may be set at a level higher than the highest selling price. The company will take into consideration factors such as the closing price of the American depositary shares traded on the NASDAQ on or before the last trading day and investor demand during the roadshow, and will determine the international offer price on June 5. The final Hong Kong offer price will be the lower of the final international offer price and the highest offer price (HK $ 126.00 per offer share).
Netease said that the company intends to use the net proceeds from this issuance for globalization strategies and opportunities, to promote the continuous pursuit of innovation and for general corporate purposes.
NetEase was listed on the NASDAQ in 2000 and has been in business for 20 years. After Alibaba went to Hong Kong for a secondary listing last year, it set off a trend for the secondary listing of Chinese stocks in Hong Kong. According to the Hong Kong Letters and Finances report on May 29, the Hong Kong Stock Exchange has approved the listing applications of NetEase and Jingdong. From billion to three billion US dollars, JD.com plans to raise 3 billion US dollars.
On May 29, the website of the Hong Kong Stock Exchange announced the NetEase company ’s hearing data set. NetEase ’s founder and CEO DingLei released a letter to shareholders “Believe the power of love”.
In the shareholder letter, Ding Lei said: We are preparing for a secondary listing in Hong Kong, bringing the time-tested brand “NetEase” back to China. “I believe that based on this market we are very familiar with, closer to our users, the love will burst out with greater power.”