Marbridge Daily

May 11, 2012

Ourpalm Shares Up 50% in Shenzhen IPO

Sina Tech, 5/11/12

Chinese mobile game developer Beijing Ourpalm (300315.SZ) today opened on the Shenzhen Stock Exchange's ChiNext board at RMB 25.56 per share and closed at RMB 24 per share, up 50% over the IPO price of RMB 16 per share and giving the company a market capitalization of roughly RMB 3.9 bln. According to Ourpalm's prospectus, the company has developed over 190 games and has nearly 300 employees.

In 2009, 2010, and 2011 Ourpalm saw revenue of RMB 58.9 mln, RMB 117 mln, and RMB 183 mln and net income of RMB 13.72 mln, RMB 41.34 mln, and RMB 55.69 mln respectively. Ourpalm's revenues are primarily driven by its business developing, publishing, and operating single-player mobile games.

Editor's Note: For more background on this topic, please see "CSRC Approves Ourpalm's Shenzhen IPO" MD 1/13/12 issue.

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