NetEase shares jump after trading debut

NetEase Inc saw its shares jump sharply on their trading debut in Hong Kong on Thursday.

Shares of the internet giant started trading at about HK$133 ($17.2), more than eight percent higher than its initial offering price of HK$123.

NetEase issued about 171 million new ordinary shares to raise HK$21.09 billion to finance its global strategies, innovation and general corporate purposes.

The company has been listed on Nasdaq since 2000. The move followed peer Alibaba Group’s massive secondary listing in Hong Kong in 2019. E-commerce player JD is planning on a similar strategy later this year.