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NetEase seeking Chinese listing, has funds to buy U.S. firms

Published 03/05/2018, 10:17 AM
© Reuters.  NetEase seeking Chinese listing, has funds to buy U.S. firms
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  • NetEase (NTES +0.7%) is looking to list its stock in China, CEO Ding Lei says, part of a wave of overseas-traded Chinese firms looking to come home with listings at the encouragement of their home country.
  • Ding spoke to Bloomberg in an interview on the sidelines of a conference in Beijing.
  • The company has a 2B-yuan fund (some $315M) set up to buy U.S. gaming and VR firms, Ding said, along with a plan to spend 4B yuan (about $630M) to build a new headquarters in southern China's Guangzhou area, according to Guangdong News.
  • NetEase has no plans to spin off other business units, such as entertainment.
  • Now read: A Security Selection Method That Beats SPY (NYSE:SPY)


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