Deals
China’s JD.com, NetEase Win Hong Kong Approval for Listings
- Both aim to complete secondary listings in the city in June
- Listings to follow Alibaba’s $13 billion share sale last year
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JD.com Inc. and NetEase Inc. have won approvals to forge ahead with their Hong Kong share sales that could raise billions of dollars, as political turmoil leaves the city’s status as an international finance center clouded in uncertainty.
Hong Kong Exchanges & Clearing Ltd. approved the secondary listing applications by the U.S.-listed Chinese tech companies, according to people familiar with the matter, asking not to be identified discussing private matters. Online gaming firm NetEase filed a preliminary prospectus with the exchange later on Friday, a confirmation that it has received the official green light.