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China’s NetEase Cloud Village Restarts Hong Kong IPO

November 23, 2021
Source: power991fm.com power991fm.com
News Snapshot:
HONG KONG — The music streaming arm of Chinese tech giant NetEase is reviving its plans for an initial public offering (IPO) in Hong Kong, after shelving it earlier this year amid an environment of tightening regulations by Beijing on China’s private sector. NetEase said the unit, Cloud Village, submitted a revised prospectus to the Hong Kong Stock Exchange for listing approval on Nov. 16. Reuters reported that NetEase hopes to raise $500 million by the end of the year, though the final figure has yet to be determined. NetEase originally filed for the Cloud Village listing in August, and...
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