Netease Listed HK $24 Billion 490 Million HK $In June 11Th

On June 2nd, NetEase today submitted a prospectus on the stock exchange of Hongkong. Prospectus shows that NetEase common stock will be listed on the main board of the Hongkong stock exchange. The stock code "9999.HK" is expected to start trading at nine a.m. on June 11, 2020. CICC, Credit Suisse and JP Morgan are joint sponsor, joint global coordinator and contact book manager.

According to the prospectus, NetEase will issue 171 million 480 thousand shares of common stock in the new issue, and the maximum public development price will be HK $126 per share.

It is disclosed that, based on the indicative selling price of HK $126 per share of the public offering and the international offering of Hongkong, after deducting the estimated underwriting fees and the anticipated sale expenses we meet, assuming that the excess allotment rights have not been exercised, the estimated net proceeds from the global offering are approximately HK $21 billion 280 million. Assuming that the allotment rights are fully exercised, it is about HK $24 billion 490 million.

According to the 20-F annual report submitted by the NetEase on 29 April to the SEC, as of December 31, 2019, NetEase has issued 3 billion 229 million shares of common stock. Ding Lei, founder of NetEase and CEO shareholding ratio of 45.1%, is still the largest shareholder. Orbis Investment Management Limited holds 6.5%, and is the second largest shareholder of the company.

Performance, in 2019, NetEase net revenue was 59 billion 241 million yuan, an increase of 15.75% over the same period last year. In terms of profits, NetEase's net profit attributable to shareholders was 21 billion 238 million yuan in 2019, representing an increase of about 245% compared with 6 billion 152 million yuan in 2018. Diluted earnings per share were 6.53 yuan, compared with 1.89 yuan in the same period last year.

It is understood that since Alibaba successfully launched the two listing in Hongkong, Jingdong, NetEase, Baidu, Ctrip and other Internet giant enterprises have also been repeatedly sent to Hong Kong for the two time. Last month, there were rumors that Baidu and Ctrip are rapidly promoting the two listing process in Hongkong, which will be formally delivered to the Hongkong stock exchange in the near future. Besides NetEase, Jingdong may also visit the HKEx in the near future.

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