NetEase Inc. raised about HK$21 billion ($2.7 billion) in its Hong Kong stock offering, people with knowledge of the matter said, as Chinese companies grapple with rising tensions between Beijing and Washington.
China’s second-largest gaming company priced 171 million new shares at HK$123 each, equivalent to a 2% discount to its Thursday closing price on Nasdaq, said the people, who asked not to be identified as the information is private. That comes after investors subscribed for many times more than the total stock offered. The company earlier set a maximum price of HK$126. The shares are expected to start trading in Hong Kong on June 11.