Rumor: 9You to List in HK

Sina Tech, 4/30/09

According to Hong Kong media reports, Chinese online game developer and operator 9You has begun official listing proceedings with the Hong Kong Stock Exchange, but due to the current market slump a specific listing date has not been announced.

An industry insider stated that 9You's largest shareholder, China-Kinwa High Technology (600110.SH), is impatient to cash out its investment in the firm which has led to 9You's persistence in listing on a stock exchange. Previously, 9You had launched a failed attempt to list on a Japanese stock exchange. China-Kinwa holds a 16.97% stake in 9You through a Hong Kong subsidiary.

Editor's Note: 9You has denied rumors of shareholder discontent. Wang Zijie, CEO of 9You, stated that the company is not short on cash, and that the company needs to wait for a period of high gaming growth before considering going public.

Keywords: 600110.SH 9You China-Kinwa High Technology Internet Wang Zijie IPO online gaming

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