NetEase to Raise $2.7 Billion in Hong Kong Stock Offering
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NetEase Inc. priced its Hong Kong stock offering at HK$123 per share to raise about HK$21.1 billion ($2.7 billion) via the listing, according to a company statement.
China’s second-largest gaming company will grant over-allotment options to international underwriters, which requires the company to allot and issue up to 25.7 million additional shares. The company plans to use the net proceeds for globalization strategies, continued innovation and general corporate purposes.