NetEase's music streaming unit Cloud Village slips in Hong Kong debut

Reuters2021-12-02

** Shares of Cloud Village Inc , the music streaming business owned by NetEase Inc , fall as much as 2.4% from the IPO price to HK$200 in their Hong Kong debut

** Stock last down 1.9% from the IPO price of HK$205 apiece; among the 30 most actively traded by turnover in mid morning

** Cloud Village sold 16 mln shares, raising $421 mln in its IPO in one of Hong Kong's first major tech listings since mid-year

** NetEase's Hong Kong shares climb 1.3%

** The Hang Seng sub-index tracking information technology firms eases 0.4%, and the Hang Seng Tech Index falls 1.1%

** The Hang Seng China Enterprises Index climbs 0.7% and the benchmark Hang Seng Index gains 0.4%

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