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Alibaba Backed NetEase's Online Music Business Gears For Hong Kong IPO Worth $1B

Benzinga2021-11-16

  • NetEase Inc's online music business Cloud Village Inc has revived its listing plans and aims to launch a Hong Kong initial public offering before 2021, the Wall Street Journal reports.
  • Alibaba Group Holding Ltd , Baidu Inc, and private-equity firm General Atlantic backed Cloud Village aims to raise $1 billion at a market valuation of $5 billion - $6 billion.
  • Tencent Music Entertainment Group, rival Cloud Village Inc, operates a music-streaming platform like Spotify Technology.
  • Cloud Village filed for an IPO in the city in late May before pulling up on August 9.
  • Cloud Village has resolved the data-security issues.
  • Cloud Village will likely remain a subsidiary of NetEase after going public. NetEase's stake would likely reduce from 88% to about 62.5% post listing.
  • Price Action:NTES shares traded higher by 5.32% at $117.10 in the premarket session on the last check Tuesday.

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评论6

  • SPOT_ON
    ·2021-11-17
    Alibaba GO GO GO
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    • SPOT_ON
      love ❤ 😍 💖 ❣ 💕 💘
      2021-11-17
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  • MGHuat
    ·2021-11-17
    Good
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  • littlekitten
    ·2021-11-17
    Cool
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    • MGHuat
      yea
      2021-11-17
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  • SunnyBoyz
    ·2021-11-16
    Yes
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  • Foured
    ·2021-11-16
    Ok
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    • Foured
      Ok
      2021-11-16
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  • JuicyJY
    ·2021-11-16
    Ali up
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    • gky
      yes
      2021-11-16
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