(Yicai Global) June 16 -- Chinese internet company NetEase will develop the mobile game ‘The Lord of the Rings: Rise to War’ with Warner Bros. Interactive Entertainment, NetEase announced yesterday.

The game is based on J.R.R. Tolkien's ‘Lord of the Rings’ trilogy, whose movie version grossed nearly USD2.9 billion worldwide and won 17 Oscars.

Shenzhen-based NetEase provided no further details about the game. The company listed on the Hong Kong Stock Exchange on June 11 and raised at least USD2.7 billion in this secondary offering. Proceeds will go to advance its international expansion plans. Cooperation with Warner Bros. Interactive Entertainment, also known as WB Games, is the first step in this mobilization.

NetEase's overseas game revenue made up about 10 percent of its total in the first quarter, per its financial report for the period. “We believe this figure will grow strongly in the next three to five years,” Chief Financial Officer Yang Zhaoxuan said

The company’s shares [HKG:9999] hit an apex of HKD135.2 on their debut, but then fell to HKD125, nearing their HKD123 issue price within two trading days. They rose to close up 3.84 percent at HKD129.90 at noon after opening 2.72 percent up.

Editor: Ben Armour