|Bid||0.00 x 800|
|Ask||0.00 x 900|
|Day's Range||110.96 - 114.66|
|52 Week Range||77.97 - 134.33|
|Beta (5Y Monthly)||0.41|
|PE Ratio (TTM)||37.77|
|Forward Dividend & Yield||0.80 (0.94%)|
|Ex-Dividend Date||Sep 13, 2021|
|1y Target Est||N/A|
(Bloomberg) -- China is planning to ban companies from going public on foreign stock markets through variable interest entities, according to people familiar with the matter, closing a loophole long used by the country’s technology industry to raise capital from overseas investors.Most Read from BloombergReliving the New York Subway Map DebateChina Cash Flowed Through Congo Bank to Former President’s Cronies‘Pension Poachers’ Are Targeting America’s Elderly Veterans‘Ghost Signs’ Haunt London’s R
NetEase Inc's Chinese music streaming business Cloud Village Inc will price it shares at around HK$205 each, raising almost HK$3.28 billion ($421 million) in its Hong Kong initial public offering (IPO), two sources with direct knowledge of the matter said. NetEase declined to comment on the pricing. Hong Kong's Hang Seng Tech Index dropped 3.25% on Friday which took its weekly decline to 4.74%.
Cloud Village, the music streaming subsidiary of NetEase, is aiming to raise up to US$453 million in a revival of its Hong Kong initial public offering that was postponed in August amid a regulatory crack down on Chinese internet companies. The Hangzhou-based company is selling a total of 16 million shares, or 7.2 per cent of its enlarged share capital, at HK$190 (US$24.38) to HK$220 apiece. There is an overallotment option to sell up to 2.4 million more shares if there is strong enough demand.