NetEase Inc - ADR

-3.43 (-3.09%)
Divestitures / Spin-offs, Exchange Changes, Equity Financing / Related

NetEase Inc Announces Proposed Spin-Off And Separate Listing Of Cloud Village Inc

Published: 05/26/2021 09:19 GMT
NetEase Inc - ADR (NTES) - Submitted a Spin-off Proposal to Hong Kong Stock Exchange.
Intends to Spin-off Cloud Village Via a Separate Listing of Cloud Village Shares on Main Board of Hk Stock Exchange.
Currently Proposed That Proposed Spin-off Will Be Effected by Way of Global Offering of Cloud Village Shares.
Upon Completion of Proposed Spin-off, Co Will Hold Not Less Than 50% of Voting Rights of Cloud Village.
Details of Proposed Spin-off, Including Size and Structure of Global Offering, Shareholding in Cloud Village, Have Yet to Be Finalised.