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China’s NetEase targets global expansion with $2.6 billion HK listing

HONG KONG (Reuters) – Chinese online gaming firm NetEase plans to raise about $2.6 billion to fund expansion through its secondary listing which began on Monday, a term sheet seen by Reuters showed, marking Hong Kong’s largest equity deal so far this year.

Nasdaq-listed NetEase’s paperless offering is expected to be one of several large secondary deals in Hong Kong this year, after Washington questioned whether Chinese companies should be able to list in New York as tensions with Beijing rise.

According to the term sheet, NetEase plans to sell 171.48 million primary shares in the float, 5.15 million shares or 3% of which will be sold to retail investors. It has set a maximum price of HK$126 ($16.26) for the retail tranche.

It will become only the second company to launch a secondary listing in Hong Kong, following Alibaba in 2019, under a rule change that finally allowed U.S.-listed

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Netease aims to raise $2-$3 billion in Hong Kong listing

HONG KONG (Reuters) – Chinese tech group Netease Inc aims to raise between $2 and $3 billion in one of the largest equity deals so far this year when it launches a secondary listing in Hong Kong on Monday, said three people familiar with the transaction.

The offering from the Chinese online gaming company is expected to be one of several large secondary listings in the city this year, as rising tension between the United States and China have led Washington to question whether Chinese companies should be able to list in New York.

Netease will start the institutional book build on Monday and the retail offering will run until the end of the week, the sources told Reuters. They asked not to be named as the information has not been made public.

Netease declined to comment on the listing process.

In its filings to the Hong Kong Stock Exchange,

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Payments startup Marqeta raises $150 million, hits $4.3 billion valuation

NEW YORK (Reuters) – Payment card issuing startup Marqeta has raised $150 million from a U.S. institutional investor, doubling its valuation to $4.3 billion, the company said on Thursday.

The Oakland, California-based company declined to disclose the name of the investor.

The deal comes a year after Marqeta raised $260 million in a round led by hedge fund Coatue Management with participation from Vitruvian Partners and others.

Marqeta will use the funding to further develop its product and continue its international expansion, chief executive and founder Jason Gardner said an interview.

Backed by Goldman Sachs Group Inc (GS.N) and Visa Inc (V.N), Marqeta has developed a platform that it says makes payment card issuing and processing simpler and more efficient for businesses.

Marqeta’s clients include many well-known technology startups such as payments company Square Inc (SQ.N), ride-hailing company Uber Technologies Inc (UBER.N),

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German chipmaker Infineon raises 1.06 billion euros with capital increase

FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen at its Austrian headquarters in Villach, Austria, June 3, 2018. REUTERS/Lisi Niesner

BERLIN (Reuters) – German chipmaker Infineon Technologies raised about 1.06 billion euros ($1.16 billion) by issuing new shares to partially finance its $10 billion acquisition of U.S.-based Cypress Semiconductor, it said on Tuesday.

Infineon said its share capital would be raised by about 4% after a private placement with institutional investors, adding that the shares were priced at 19.30 euros apiece.

The company closed the acquisition of Cypress Semiconductor in April, coupling its own prowess in managing electric drivetrains with Cypress’s superior connectivity in areas such as in-car entertainment.

Infineon said earlier this month that it expects sales to decrease by 5% in the fiscal year to Sept. 30 because of the impact of the coronavirus pandemic, compared with an original target of a 5% increase.

Infineon is

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