NetEase plans second listing on the Hong Kong exchange

Chinese tech giant, NetEase Inc., is planning a second listing Hong Kong exchange.

Sources told Bloomberg that the listing which is to be advised by Credit Suisse Group AG and China International Capital Corp Ltd. has been filed with the exchange.

The gaming and the entertainment giant currently trades on the Nasdaq with a market value of about $43 billion.

Sales of mobile games are surging this year as coronavirus-driven lockdowns and other social distancing measures have led to more time and money spent on gaming, according to Bloomberg Intelligence analysts Matthew Kanterman and Vey-Sern Ling. Tencent Holdings Ltd. and NetEase are the market leaders in iOS mobile games and the analysts expected the duo to maintain their leads. NetEase has a 6.1% share of the category, according to analytics firm Sensor Tower.

Leave a Reply

Your email address will not be published. Required fields are marked *