NETEASE Inc. has picked banks for its planned second listing in Hong Kong, according to people familiar with the matter, joining other mainland technology companies in tapping Hong Kong’s stock market for new funds.

The firm is working with advisers, including Credit Suisse Group AG and China International Capital Corp., on preparations for the offering and has confidentially filed a listing application with the stock exchange, the sources said.

The share sale could happen as soon as the second half of this year, one of the sources said, asking not to be identified because the information is private.

The Hangzhou-based online gaming and entertainment firm, which currently trades on the Nasdaq, has a market value of about US$44 billion.

No final decisions have been made, and details of the proposed offering could change, the people said.

NetEase was among the mainland firms that had discussed secondary listings with the Hong Kong stock exchange after Alibaba Group Holding Ltd. raised US$13 billion in its 2019 secondary share sale.

E-commerce giant JD.com Inc. has also filed confidentially for a second listing in Hong Kong, people familiar with the matter have said.

Games developed by NetEase are among the most popular in China, including the hit titles Fantasy Westward Journey 3D and Knives Out. The company also operates international online games locally.

(SD-Agencies)