Tuesday, August 4, 2020
Martin Hennecke

NetEase gears for US$1b IPO by June
NetEase, Chinese second largest game company, is planning a secondary listing in Hong Kong as soon as June to raise US$1 billion (HK$7.8 billion) to US$2 billion, Reuters IFR reported. Meanwhile, mainland e-commerce giant JD.com is looking to kick off bookbuilding for its US$3 billion Hong Kong initial public offering on June 5 or June 8, the report said. The IPO schedule has not yet been finalized, it said. In other IPO news, Haina Intelligent Equipment International, a mainland manufacturer of automated machines for making disposable hygiene products, kicked off a public float yesterday to raise up to HK$174 million, with a minimum investment of HK$6,060.46. The company is offering 116 million shares at an indicative price range of HK$1.08 to HK$1.5, and is expected to debut on June 3. The IPO attracted investment from "Shop King" Tang Shing-bor, while local brokers lent HK$580 million to retail investors for subscriptions. Separately, retail investors placed at least HK$21.5 billion in orders through margin financing for Yeahka's flotation within a day, making it 130 times oversubscribed.
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