Caixin
Nov 17, 2021 05:03 AM
BUSINESS

NetEase’s Music App Cloud Village Revives Delayed Hong Kong IPO

(Bloomberg) — The music streaming arm of Chinese gaming giant NetEase Inc. is reviving its plans for an initial public offering in Hong Kong after it put the share sale on hold earlier this year.

The unit, Cloud Village Inc., refiled a preliminary prospectus Tuesday with the Hong Kong stock exchange.

The enterprise could seek to raise $500 million in an offering as soon as this year, according to people familiar with the matter who asked not to be identified as the information is private. Cloud Village had been pursuing an initial public offering (IPO) of $1 billion, Bloomberg reported in May.

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