Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

NetEase's Cloud Village shares slip in Hong Kong debut

12/01/2021 | 09:43pm EST
The logo of internet technology company Netease is seen at the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai

HONG KONG (Reuters) -Shares in Cloud Village Inc, the music streaming business owned by NetEase Inc's, fell 1% on their first day of trade.

The stock's performance is being closely watched as a barometer of investor appetite for Chinese tech related deals amid a regulatory clampdown on the sector by mainland authorities that has upended business norms.

Cloud Village raised $421 million in its initial public offering, with its shares priced at HK$205 each in one of Hong Kong's first major tech listings since mid-year.

NetEase sold 16 million shares in the IPO but the final price set was set only at the mid point of the range, indicating the deal was not swamped by demand.

The IPO was Cloud Village's second second attempt to list this year. The company shelved its initial plan to raise $1 billion in August after Chinese regulators toughened rules affecting the tech sector. Cloud Village then scaled down the size of the deal to win investor support.

(Reporting by Donny Kwok and Scott Murdoch, Additional reporting by Alun John; Editing by Edwina Gibbs)


ę Reuters 2021
Latest news "Economy & Forex"
09:15aU.S. allocates $14 billion to expand ports, shore up waterways
RE
09:12aRetail investors show signs of fatigue after last year's trading frenzy - report
RE
09:12aChina ready to offer digital yuan payment services to Olympics visitors
RE
09:12aBetMGM upgrades 2022 revenue outlook on expansion plans
RE
09:11aWall St set to open higher on earnings boost, Big Tech bounces back
RE
09:10aCanada Wholesale Transactions Climb 3.5% in November
DJ
09:07aBillionaire Soon-Shiong opens new vaccine plant in South Africa
RE
09:07a'IN THE NAME OF GOD, GO' : UK's Johnson faces demands to resign
RE
09:07a'IN THE NAME OF GOD, GO' : UK's Johnson faces demands to resign
RE
09:05aEnergyCAP Names Lalit Agarwal Vice President, Energy Management and Sustainability
SE
Latest news "Economy & Forex"