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China-based Netease.com Issues IPO at Nasdaq
Netease.com, a China-based internet technology company, announced Friday that it has commenced its initial public offering (IPO) of American Depository Shares (ADS) at New York's Nasdaq stock market.
A total of 4.5 million ADS has been issued at 15.5 US dollars per share, with Merrill Lynch as its underwriter.
Established in 1997, Netease is currently focusing its business on the Chinese market.
As of May 31, 2000, its web site had some 4.9 million registered members, over 370,000 personal home pages, nearly 30,000 simultaneous chatroom participants and 3 million e-mail accounts, the company said.
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