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NetEase Covers Its Books for Hong Kong IPO

Investing.com
·1-min read

By Gina Lee

Investing.com – China’s NetEase said on Thursday that it has covered its books for its secondary listing on the Hong Kong Stock Exchange.

The gaming giant could close the share offer later in the day but is scheduled to close the books on its international offer at 4pm on Thursday, with the Hong Kong public offer due to close a day later.

The shares are scheduled to be listed on June 11.

The IPO is set to raise between $2.6 and $3 billion from mostly international investors, with the Hong Kong public offer making up only 3%.

NetEase will price its international trance on Friday, referencing the price of its American Depositary Receipt (ADR) shares. It has set its maximum price offer for the Hong Kong public offer at HK$126 ($16.26) each.

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The company's ADR shares (NASDAQ:NTES) were up 1.45% to $414.58 by 1:01 AM ET (6:01 AM GMT).

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