NetEase targets as much as US$3 billion in Hong Kong listing, as more Chinese companies eye move closer to home
- NetEase is only the second company to launch a secondary listing in Hong Kong, following Alibaba in 2019
- Its offering is expected to be one of several major secondary listings expected in the Hong Kong stock exchange this year

Chinese internet company NetEase aims to raise between HK$21.6 billion and HK$24.2 billion (US$2.8 billion and US$3.1 billion) in fresh capital via a secondary listing in Hong Kong, the video games giant said on Monday, making it one of the largest equity deals so far this year.
The offering is expected to be one of several major secondary listings in the Hong Kong stock exchange this year, as rising tensions between the US and China have led Washington to question whether Chinese companies should still be able to list in New York.
NetEase, whose American depositary shares are traded on the Nasdaq Stock Market, will list on Hong Kong’s main board. Its shares will trade under the stock code 9999.HK.
The company’s offer price was set at HK$126. It expects a maximum of about 24.2 billion shares to be offered to investors.
In its filings to the Hong Kong stock exchange, NetEase said one potential risk for investors was proposed US legislation that could force some Chinese companies to delist if their auditor had failed to comply with US audit oversight for three years.