Report: NetEase raises $2.7bn in Hong Kong IPO

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Report: NetEase raises $2.7bn in Hong Kong IPO

Chinese games giant has apparently raised HK$21bn ($2.7bn) in its initial offering on the Hong Kong stock exchange.

That's according to Bloomberg, which reports that the company has priced 171m shares at HK$123 each. Trading is set to begin today (June 11th).

NetEase has been listed on Wall Street since 2000. It first launched a second listing in Hong Kong at the end of May with the intent of raising between $2 billion and $3 billion.

Big money

NetEase is the second biggest games company in China, following – of course – Tencent. Those two companies made a massive $743m between them in the first half of 2019.

The firm works with some of the largest titles in the world, releasing Activision Blizzard's titles in China, as well as operating Minecraft in this part of the world.

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PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.