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2021-12-02

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NetEase’s Music App Opens Unchanged in Hong Kong Trading Debut

Shares of the music streaming arm of Chinese gaming giant NetEase Inc. opened unchanged in their tra

NetEase’s Music App Opens Unchanged in Hong Kong Trading Debut

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That was within a range that went from HK$190 to HK$220. Itraised$422 million in the IPO.</p>\n<p>The company began trading in the Asian financial hub after having&nbsp;put the listing on hold&nbsp;in August, delaying it just days after it began gauging investor demand. Initially it was pursuing an IPO of&nbsp;about $1 billion, Bloomberg News had reported in May.</p>\n<p>Cloud Village runs NetEase’s music streaming platform in China and generates most of its revenue through subscriptions, virtual gifting and advertising. Started in 2013, the music wing has since expanded its products to offer everything from online karaoke to live-streaming and lyrics sharing. The company has yet to deliver profit because of costs stemming from its fierce rivalry with&nbsp;Tencent Music Entertainment Group.</p>\n<p>China International Capital Corp., Credit Suisse Group AG and Bank of America Corp. are the sponsors of the deal.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NetEase’s Music App Opens Unchanged in Hong Kong Trading Debut</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNetEase’s Music App Opens Unchanged in Hong Kong Trading Debut\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 10:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-12-02/netease-s-music-app-opens-unchanged-in-hong-kong-trading-debut><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of the music streaming arm of Chinese gaming giant NetEase Inc. opened unchanged in their trading debut in Hong Kong, following an initial public offering that priced shares at the mid-point of...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-02/netease-s-music-app-opens-unchanged-in-hong-kong-trading-debut\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09899":"云音乐"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-02/netease-s-music-app-opens-unchanged-in-hong-kong-trading-debut","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109184191","content_text":"Shares of the music streaming arm of Chinese gaming giant NetEase Inc. opened unchanged in their trading debut in Hong Kong, following an initial public offering that priced shares at the mid-point of a marketed range.\nCloud Village Inc. shares traded at HK$205, the same price they were sold at in the IPO. 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