NetEase’s Online Music Business Revives Plans for $1 Billion IPO

NetEase’s Online Music Business Revives Plans for $1 Billion IPO

HONG KONG—The online music business of Chinese internet company NetEase Inc. has revived its listing plans and is aiming to launch an initial public offering in Hong Kong before the end of this year, according to people familiar with the matter.

Cloud Village Inc., which operates a music-streaming platform similar to that of Spotify Technology SA’s , filed for an IPO in the city in late May and was planning to take investor orders in the first half of August. The deal was pulled on Aug. 9 amid a huge selloff in Chinese internet-technology stocks that was triggered by a wave of regulatory action by Beijing against many new-economy companies.

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