On the morning of June 11, at 9:30 a.m., Netease officially went public on the Hong Kong stock exchange, with an opening price of HK $133, up more than 8% from the issue price of HK $123.At the Hangzhou listing ceremony, Ding Lei, founder and CEO of Netease, joined eight "lovers" to complete the "cloud Gong". Among the 8 "lovers" standing in the center of the stage are senior users of Netease products and outstanding staff representatives.
At the Hangzhou listing ceremony, Ding Lei, founder and CEO of Netease, joined eight "lovers" to complete the "cloud Gong".
"Listing in Hong Kong is a new starting point for Netease," said Ding. Based on the market that we know more about Netease and Netease, we can bring more value to our users by continuously gathering people's power, loving power and innovating power. "
According to the prospectus, Netease's global offering of 171 million new shares, with net proceeds of more than HK $20 billion, is the largest public offering of the Hong Kong stock exchange so far in 2020.
In 2018, the Hong Kong Stock Exchange revised the main board listing rules of Hong Kong stock to open a green channel for new economic enterprises seeking secondary listing in Hong Kong. As a financial hub connecting China and the world, HKEx is welcoming back a large number of high-quality stocks listed in the United States. "This year will be an important year for the IPO of the Hong Kong stock exchange, including both large-scale IPO from China and many companies returning from the United States," Li Xiaojia, chief executive of the Hong Kong stock exchange, previously made it clear
During the public offering period, Netease was warmly welcomed by the market and was oversubscribed substantially. The total amount of subscription reached nearly HK $500 billion, and the Hong Kong public offering alone received 360.53 times of subscription.
Netease was founded in 1997 and listed on NASDAQ in 2000. In the 20 years since then, Netease has developed steadily and passed through different economic cycles, with its share price increasing by more than 90 times compared with the issue price. Netease is a medium cap stock that pays dividends quarterly. Since 2014, Netease began to pay quarterly dividends and has continued to this day.
Listing in Hong Kong will provide Netease with more access to the capital market. In particular, the Asian capital market can also attract a wider range of Asian and international investors and more represent Netease's Chinese and international user base.
Listing in Hong Kong is undoubtedly a new milestone for Netease. Ding Lei, CEO of Netease, said in his first letter to shareholders that Netease will strive to do four things in the next step: first, establish an organization with self evolution ability; second, continue Netease's consistent boutique strategy; third, firmly promote the globalization strategy based on China; fourth, promote more inclusive resources.
At present, Netease's main business covers online games, intelligent learning, music streaming media, e-commerce, media, e-mail and other sectors.