NetEase prices secondary listing at HK$123 per share, raises US$2.7 billion; JD.com to raise up to US$4.1 billion in Hong Kong
- NetEase prices its Hong Kong secondary listing at a 2 per cent discount to last close of US$405 on strong demand from investors
- JD.com seeks to price its secondary listing at up to HK$236 a share
Chinese tech giants JD.com and NetEase could raise a combined US$6 billion in a pair of blockbuster secondary listings in Hong Kong as tensions continue to rise between the United States and China.
NetEase, the world’s second-largest mobile games publisher, priced its Hong Kong secondary listing at HK$123 (US$15.87) a share, gathering commitments worth US$2.7 billion ahead of its debut in the financial hub on June 11, people familiar with the deal said on Friday.
The price represents a tight 2 per cent discount to the last closing price of NetEase’s depositary receipts of US$405 on Thursday and a 3.1 per cent discount to the one-day volume-weighted average price of US$412.67.
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Investors’ take-up of the sale bodes well for e-commerce giant JD.com, which plans to raise up to US$4.1 billion in its own secondary listing in the city.