On December 2, 2021, Cloud Village Inc. ("Cloud Music") issued a global offering of 16,000,000 ordinary shares on the Main Board of the Hong Kong Stock Exchange at an issue price of HK$205 per share, raising approximately HK$3.28 billion from investors. Launched in 2013 by parent company NetEase Group, Cloud Music is a leading provider of interactive music streaming media services in China.

Skadden, Arps, Slate, Meagher & Flom and JunHe LLP advised the issuer; Freshfields Bruckhaus Deringer and Jingtian & Gongcheng advised the joint sponsors.