2020.06.11
On June 11, 2020, NetEase, Inc. ("NetEase" or the "Company") listed on the main board of the Stock Exchange of Hong Kong (SEHK) with the stock code of 9999. NetEase issued 171.48 million common shares globally (excluding over allotment rights) at a price of HKD 123 per share, raising HKD 20.9295 billion.
This was the first instance of a US listed company successfully listing on the Hong Kong Stock Exchange in 2020. In October 2019, JunHe assisted NetEase Youdao, a unit of NetEase, to list on the NYSE. After the Hong Kong listing, NetEase is now listed on the NYSE, NASDAQ and HKSE.
NetEase is one of the leading Internet companies in China and is the world's leading online gaming development and distribution company. It is also the largest email service provider in China and has a self-operated quality e-commerce brand on China's leading online music platform, online education platform and information media platform, covering more than 1 billion users in China. NetEase positions itself as providing "quality content and services, for users to create surprises", and the attribute its success to the originality and quality of its creative content.
The timetable for the project was very tight. It took barely three months from the commencement of the project to the successful listing. JunHe, as the Chinese legal counsel of the joint sponsor of the project, provided high-quality, rigorous and efficient legal services to overcome the adverse effects of COVID-19 on the timing of the project and other factors. JunHe assisted the joint sponsor to carry out legal due diligence, reviewed and modified the various transaction documents, relevant applications and issuance documents for this listing. The team issued Chinese legal opinions, and assisted in responding to the relevant domestic laws by the Hong Kong Stock Exchange, and finally helped NetEase to obtain the approval and consent of the Hong Kong Stock Exchange for the various exemptions and listing applications. The solid work attitude and professional service ability of JunHe’s team has won high recognition and trust from the customers and all other intermediaries involved in the successful listing.
The leading partners of the project were WANG, Jiangang, YU, Yongqiang (YY) and YI, Yisong, and the internal audit partner was LI, Chenliang.
