Technology

NetEase’s music streaming unit, Cloud Village, targets US$453 million as it revives Hong Kong IPO shelved amid tech crackdown



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…



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