A mobile phone shows NetEase’s Cloud Music app. The company has indefinitely shelved its Hong Kong IPO plans. Photo: Barcroft Media via Getty Images A mobile phone shows NetEase’s Cloud Music app. The company has indefinitely shelved its Hong Kong IPO plans. Photo: Barcroft Media via Getty Images
A mobile phone shows NetEase’s Cloud Music app. The company has indefinitely shelved its Hong Kong IPO plans. Photo: Barcroft Media via Getty Images

NetEase unit Cloud Village pauses Hong Kong IPO as China’s antitrust scrutiny weighs on internet firms’ fundraising plans

  • NetEase’s music-streaming unit Cloud Village was targeting up to US$1 billion proceeds from Hong Kong stock offering
  • Beijing’s crackdown on the tech sector abetted a 60 per cent plunge in funds raised from Hong Kong IPOs in July from a year earlier

Topic |   Banking & Finance
A mobile phone shows NetEase’s Cloud Music app. The company has indefinitely shelved its Hong Kong IPO plans. Photo: Barcroft Media via Getty Images A mobile phone shows NetEase’s Cloud Music app. The company has indefinitely shelved its Hong Kong IPO plans. Photo: Barcroft Media via Getty Images
A mobile phone shows NetEase’s Cloud Music app. The company has indefinitely shelved its Hong Kong IPO plans. Photo: Barcroft Media via Getty Images
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