Shanda Games Increases IPO by 20.5 Mln Shares

CCID, 9/24/09

Shanda Games has increased the number of shares to be issued in its September 25 IPO by 32.5%, bringing the total estimated value of the sale to USD 960 mln.

In a U.S. Securities and Exchange Commission (SEC) filing submitted on Wednesday, Shanda Games said it will issue 83.5 mln American Depository Shares, up from the previous total of 63 mln shares. The additional 20.5 mln shares are to be held by parent company Shanda Interactive Entertainment (Nasdaq: SNDA), which will hold a 96% stake in the subsidiary after the IPO is completed. The initial share price ranges between USD 10.50 and USD 12.50, with the share price to be announced September 24.

Keywords: online gaming Shanda Shanda Games Internet IPO SNDA GAME

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