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NTES - NetEase Inc News Story

$103.36 2.2  2.2%

Last Trade - 14/01/22

Sector
Technology
Size
Large Cap
Market Cap £50.35bn
Enterprise Value £43.55bn
Revenue £9.56bn
Position in Universe 199th / 7386

BUZZ-NetEase's HK shares jump before music streaming spin-off's trading debut

Wed 1st December, 2021 7:52am
** Hong Kong shares of NetEase Inc  9999.HK  jump 6.4% to
HK$179.40, set for biggest daily percentage gain since Oct 7
    ** Stock is biggest percentage gainer on both the Hang Seng
Tech Index  .HSTECH  and the Hang Seng China Enterprises Index
 .HSCE  
    ** The Zhejiang, China-based online gaming developer says
the final offer price for the global offering of its spin-off
unit Cloud Village Inc  9899.HK  is HK$205 apiece (https://bit.ly/3piMucj)
    ** Says Chinese music streaming business Cloud Village's
shares will begin trading in Hong Kong on Dec 2
    ** Cloud Village offered 16 mln shares for sale in Hong Kong
IPO, of which its public offering portion of 1.6 mln shares have
been slightly over-subscribed
    ** The unit will price shares at around HK$205 each to raise
HK$3.28 bln ($420.74 mln), two sources with direct knowledge of
the matter said; that price is at the midpoint of HK$190 to
HK$220 range flagged when deal launched  urn:newsml:reuters.com:*:nL1N2SH0H5
    ** The Hang Seng subindex tracking information technology
firms  .HSCIIT  jumps 1.6%, and the Hang Seng Tech Index
 .HSTECH  gains 0.9%
    ** The Hang Seng China Enterprises Index  .HSCE  and the
benchmark index  .HSI  both rise 1.1%
    ** NetEase's Hong Kong shares had risen 14.2% this year, as
of last close 


($1 = 7.7957 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))
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