NetEase shares rise on Hong Kong market debut
File photo/Tan Yuhan (NBD)
NetEase Inc.'s shares rose strongly on its Hong Kong market debut Thursday morning as the tech firm became the second U.S.-listed Chinese company to finish homecoming secondary listing after Alibaba.
Shares of the internet giant started trading at about 133 Hong Kong dollars (17.16 U.S. dollars), more than eight percent higher that its offering price of 123 Hong Kong dollars.
NetEase issued about 171 million new ordinary shares to raise 21.09 billion Hong Kong dollars to finance its global strategies, innovation and general corporate purposes.
Its underwriters can also exercise an over-allotment option to require the company to issue up to 25.72 million additional shares.