10 June, 2020
Skadden is advising NetEase, Inc., a Nasdaq-listed leading Chinese internet technology company and one of the world's largest publishers of mobile games, on its global offering of 171,480,000 new ordinary shares, which comprises an International Offering and a Hong Kong Offering, both of which are multiple times oversubscribed. Skadden acts as the Hong Kong and U.S. legal advisor to NetEase, Inc. The offer price has been set at HK$ 123 (US$ 15.87) per share, gathering commitments worth US$ 2.7 billion, not including the over-allotment option. Subject to approval from the Hong Kong Stock Exchange, the shares are expected to begin trading on the main board on 11 June, 2020 under the stock code "9999."
The Skadden team was led by partners Julie Gao, Christopher Betts, Paloma Wang (all Hong Kong) and Haiping Li (Shanghai); with Yilin Xu, Counsel (Hong Kong); Cindy Zhiran Li, Associate (Hong Kong); Allan Wan, Associate (Hong Kong); Shimeng Zhang, Associate (Hong Kong); Wang (Stan) Yao, Associate (Hong Kong); Youtong Ling, International Legal Project Manager (Hong Kong); and trainee solicitor Marie Lim (Hong Kong).
