NetEase announces submission of draft registration statement by NetEase Media
NetEase announced that NetEase Media, a Cayman Islands company which is currently wholly owned by the company and operates the company's internet media business, submitted a draft registration statement on Form F-1 on a confidential basis to the U.S. Securities and Exchange Commission for a possible initial public offering. The number of shares proposed to be offered and sold and the dollar amount proposed to be raised in the proposed IPO have not yet been determined. The proposed IPO is expected to commence after the SEC completes its review process, subject to market and other conditions. However, there can be no assurances as to the timing or completion of the proposed IPO.