HANGZHOU, China, Nov. 22, 2021 /PRNewswire/ -- Cloud Village Inc.
(the "Company"), a leading interactive music streaming service
provider in China, today
announced the launch of its Hong Kong Public
Offering, which forms part of the Global Offering (the
"Offering") of 16,000,000 new ordinary shares (the "Offer
Shares" or "Shares") and listing of its ordinary shares on the
Main Board of The Stock Exchange of Hong Kong Limited (the "SEHK")
under the stock code "9899.HK."
The Offering initially comprises 1,600,000 offer Shares
under the Hong Kong Public Offering and 14,400,000
offer Shares for the International Offering, representing
approximately 10.0% and 90.0% of the total number of Shares in the
Offering, respectively, subject to re-allocation and
over-allotment. Subject to the level of any oversubscription
in the Hong Kong Public Offering and pursuant to the clawback
mechanism as described in the prospectus issued in Hong Kong, the total number of shares
available under the Hong Kong Public Offering could be adjusted to
up to a maximum of 8,000,000 offer Shares, representing
approximately 50.0% of the Offer Shares initially available under
the Offering. In addition, the Company expects to grant the
international underwriters an over-allotment option to
purchase up to an additional 2,400,000 new Shares in the
International Offering, representing not more than 15.0% of the
Offer Shares initially available under the Offering.
The offer price for the Hong Kong Public Offering (the "Hong
Kong Offer Price") will be not more than HK$220.00 per share (the "Maximum Offer
Price"). The Company will set the International Offer Price by
December 1, 2021 Hong Kong time. Shares will be traded in
board lots of 50 shares.
The Company plans to use the net proceeds from the Offering for
continuingly cultivating its community, innovating and improving
technological capabilities, selected mergers, acquisitions and
strategic investments, and general corporate purposes.
Fully Electronic Application Process for the Hong Kong Public
Offering
The Company has decided to adopt a fully electronic application
process for the Hong Kong Public Offering, with no printed copies
of prospectuses or application forms. A fully electronic
application process is consistent with the way in which the
Company's users and stakeholders engage and interact with each
other and the Company. As a company which has been highly committed
to environmental, social and corporate responsibility matters since
its founding, Cloud Village believes such method will also help
mitigate the environmental impact of printing and minimize the
exploitation of natural resources, among others. The prospectus is
available at the website of the Hong Kong Stock Exchange at
www.hkexnews.hk and the Company's website at
http://ir.music.163.com/.
The Company encourages applicants for the Hong Kong Public
Offering to view its prospectus and apply online through the White
Form eIPO service at www.eipo.com.hk, or apply through the CCASS
EIPO service. The Hong Kong Public Offering will commence at 9:00
a.m. on Tuesday, November 23, 2021
Hong Kong time and will close at 12:00 noon on Friday, November 26, 2021 Hong Kong time.
Potential applicants may call the enquiry hotline of
Computershare Hong Kong Investor Services Limited if they have any
question about making applications for the Hong Kong Offer Shares.
The hotline number is +852 2862 8646, and will be open from
9:00 a.m. to 9:00 p.m. on Tuesday,
November 23, 2021, Wednesday, November 24,
2021 and Thursday, November 25,
2021, and from 9:00 a.m. to
12:00 noon on Friday, November 26,
2021 Hong Kong time.
About Cloud Village Inc.
Launched in 2013 by NetEase, Inc. (NASDAQ: NTES and HKEX: 9999),
Cloud Village Inc. is a leading interactive music streaming service
provider in China. Dedicated to
providing an elevated user experience, Cloud Village Inc. provides
precise, personalized recommendations, promotes user interaction
and creates a strong social community. Its focus on discovering and
promoting emerging musicians has made Cloud Village Inc. a
destination of choice for exploring new and independent music among
music enthusiasts in China. The
platform has been recognized as the most popular entertainment app
among China's vibrant Generation Z
community.
Please see http://music.163.com/ for more
information.
Safe Harbor Statement
This press release is not for release, publication,
distribution, directly or indirectly, in or into the United States or any other jurisdiction
where such distribution is prohibited by law. This press release
does not constitute and is not an offer to sell or a solicitation
of any offer to buy securities in Hong
Kong, the United States or
elsewhere. The securities referred to in this press release have
not been and will not be registered under the U.S. Securities Act
of 1933 (the "U.S. Securities Act") or any state securities
laws of the United States and may
not be offered or sold in the United
States absent registration under the U.S. Securities Act or
except pursuant to an applicable exemption from, or in a
transaction not subject to, the registration requirements of the
U.S. Securities Act. There will be no public offering of securities
of the Company in the United
States.
There can be no guarantee that the Offering and listing will be
completed as planned, or that the expected benefits from the
Offering and listing will be achieved. All information provided in
this press release is as of the date of this press release and are
based on assumptions that the Company believes to be reasonable as
of this date, and the Company does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
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SOURCE Cloud Village Inc.