5/29, 9:05 AM (Source: TeleTrader)
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NetEase files for secondary listing in Hong Kong

Chinese gaming company NetEase filed for a secondary listing on the Hong Kong Stock Exchange on Friday, the company confirmed.

"I believe that returning to a market that is closer to our roots will further fuel our passion in our business and our users," NetEase CEO William Ding said in a letter to shareholders.

NetEase is listed on the Nasdaq, while increased scrutiny of Chinese companies in the United States could also see seek a secondary listing in Hong Kong, according to several reports.

Breaking the News / JC