Netease cloud music was fully subscribed in half a day, and cornerstone investors subscribed for us $350 million

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On November 23, Netease cloud music launched a global public offering, which was fully subscribed in half a day, attracting investors, including global long-term funds, investment funds focusing on the new economy and hedge funds. According to the prospectus, Netease cloud music has introduced Netease, Sony Music Entertainment and ORBIS Investment Management Co., Ltd. as cornerstone investors, with a total subscription of US $350 million. Among them, Netease subscribed US $200 million (about HK $1.56 billion) shares, Sony Music Entertainment subscribed US $100 million (about HK $780 million) shares, and ORBIS subscribed US $50 million (about HK $390 million) shares.