Sina Tech, 5/25/09
According to foreign media, Shanda (Nasdaq: SNDA) has announced that it plans to submit to the US Securities and Exchange Commission (SEC) a confidential registration draft for an IPO of its gaming division, Shanda Games. The company will, if capital markets permit, start the IPO process, filing an F-1 registration statement. Shanda has yet to determine the number and pricing of shares.
Shanda Games is Shanda's wholly-owned online game operating business. After the completion of Shanda Games's IPO, Shanda plans to maintain its position as majority share holder.