Transaction Overview
NetEase, Inc. (“NetEase” or “the Company”, 9999.HK), is successfully listed on the Hong Kong Stock Exchange on June 11, 2020. CMBI acted as Joint Bookrunner and Joint Lead Manager for this listing.
With the mission “to create wonders through delivering premium content and excellent service to users”, and the vision of “fostering collaboration and realizing people’s aspiration for a better life through technology and innovation”, NetEase has kept delivering premium content and services during the past 3 years. It has a successful online game business, developing and operating a rich portfolio of highly popular titles. Leveraging its user insights and execution expertise, NetEase also incubated and developed in-house a pipeline of innovative and successful businesses, including intelligent learning and other businesses, ranging from music streaming and private label e-commerce to internet media, e-mail services and others. As of December 31, 2019, it had over 1.0 billion registered e-mail users, over 800 million NetEase Cloud Music registered users, and it also had over 100 million Youdao average MAUs in 2019.
NetEase issued 171,480,000 new shares (assuming the Over-allotment Option is not exercised), and the offering price was set at HK$123.00, and the offering amount was approximately HK$21.1 billion or US$2.7 billion (assuming the Over-allotment Option is not exercised). The offering has been widely recognized by international and domestic investors, and over-subscribed in International Offering and Hong Kong Offering. The International Offering has been multiple times subscribed and Hong Kong Public Offering has been over 360 times subscribed.
Acting as the Joint Bookrunner and Joint Lead Manager, CMBI has made important contributions to the successful listing of NetEase in deal execution, marketing and sales. CMBI leveraged on China Merchants Bank's strong private banking network to introduce a large number of domestic high-net-worth investors' orders, enriched the investor base and enhanced the popularity of the issuance.
Source: Prospectus
