The Chinese gaming company said it was not discounting Netaji’s closing price in New York, issuing more than 111 million new shares at a maximum price of HK 12 126 (. 16.26) each, with its shares traded since 2002.
The transaction could raise about ৮ 2.8 billion for the company, with prices expected to be set at a final price on Friday. The company did not immediately respond to a request for comment on its minimum price for the new shares.
Netaji is expected to start trading in Hong Kong from June 11th.
The company says it wants to use the money to expand its online game offers in overseas markets such as Japan, the United States, Europe and Southeast Asia. It intends to use some of the funds to further its ongoing pursuit of innovation.
As tensions between the United States and China escalate, so does the rise in cash, threatening to break up an already fragile trade war between the world’s largest economies. The two countries have clashed over Hong Kong’s new national security law, pointing the finger at a fierce and ongoing battle over who is to blame for the coronavirus epidemic and who controls future technologies.
Chinese companies seeking IPO on Wall Street face intense scrutiny as Net raises billions on His Cong
The NASDAQ (NDAQ)
Last month, rules were proposed that would make Chinese exchanges more difficult for the public in return.
And But after the Coffee Accounting scandal, the U.S. Senate unanimously passed a bill that would bar companies that refuse to open books listed on Wall Street. Bilateral co-sponsors of the bill say the goal is to “kick the Chinese company out of the US exchange”. The bill must be passed by the US House of Representatives.
In filing with the Hong Kong Stock Exchange, Netiz cited the U.S.’s highly regulatory environment and the possibility of the bill being passed as a potential risk factor.
“Enforcing any such law … could cause investors uncertainty for the affected issuers. [US shares] Could be adversely affected, and we may be listed if we are unable to meet the requirements, ”Netiz said.
Nasdaq Lucky Luckin has moved on
A significant portion of last year’s revenue was made after the Chinese coffee chain was admitted. Luckin has appealed the decision, and its shares have resumed trading. Its stock has been down about 95% for the year.
U.S. markets are still attractive despite higher investigations
Some Chinese companies. Shanghai-based Dada Nexus, a supported-demand grocery supplier Walmart (WMT)
And Chinese e-commerce companies JD.com (J.D.)
Monday said it expects to raise more than ৮ 260 million in U.S. public offerings.