NetEase and JD.com set second listing date in Hong Kong

May 25 (Reuters) – NetEase plans to list for a second time in Hong Kong on June 11 and JD.com a week later, according to Reuters. The two deals, which could raise a total of $5bn, will be the largest in Hong Kong’s equity capital markets so far this year. Jd.com is likely to raise as much as $3bn by selling a 5 per cent stake, a source said, with NetEase’s target of up to $2bn.

NetEase and JD.com set second listing date in Hong Kong

Earlier, it was reported that Baidu was considering a de-listing from nasdaq to raise its valuation. In response, Baidu official response, (de-listing) related statements are rumors. On May 21st Mr Li told the media that he was not worried about the US government’s crackdown and was constantly discussing what could be done, including a second listing in Hong Kong and elsewhere.

As early as this month, it was reported that NetEase has formally submitted its listing application to the Hong Kong Stock Exchange through confidential means, and as soon as possible in the second half of this year to complete the secondary listing, the size and timetable of the issue and other details have not yet been finalized.

In March, the Hong Kong Letter newspaper also reported that JD.com had hired UBS and BofA to arrange an IPO, with the timing and size of the offering to be market-like. On the morning of April 29th IFR, a Reuters-owned media outlet, quoted people familiar with the matter as saying that JD.com had secretly submitted listing documents to be listed in Hong Kong for a second listing. JD.com is likely to sell up to 5 per cent of its shares, which are expected to go public as early as June.

NetEase and JD.com set second listing date in Hong Kong