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NetEase files for Hong Kong secondary listing, amid scrutiny over Chinese firms

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Netease.com’s CEO William Ding Lei speaks during 2019 NetEase Future Conference at Hangzhou International Expo Center on November 23, 2019 in Hangzhou, Zhejiang Province of China.

VCG | Getty Images

NetEase, a U.S.-listed Chinese online gaming company, confirmed on Friday it will seek a secondary listing in Hong Kong.

The move comes amid greater scrutiny of Chinese firms listed in the U.S. 

“We are also preparing our secondary listing on the Stock Exchange of Hong Kong, bringing our established brand back to China,” William Ding, CEO of NetEase said in a letter to shareholders on Friday. “I believe that returning to a market that is closer to our roots will further fuel our passion in our business and our users.”

The accompanying regulatory filing did not unveil the amount of capital NetEase will raise nor the timing of the listing. 

CICC, Credit Suisse and J.P. Morgan are the joint sponsors of the Hong Kong listing. 

This is a breaking news story. Please check back. 

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