Shanda Games to IPO September 25
Caijing.com, 9/15/09
Shanda Games, a subsidiary of Shanda Interactive Entertainment (Nasdaq: SNDA), will IPO on the Nasdaq on September 25, raising as much as USD 788 mln.
Shanda Interactive filed an IPO prospectus with the U.S. Securities and Exchange Commission stating that Shanda Games plans to issue 63 mln shares at USD 10.50 - USD 12.50 per share. Shanda Interactive will purchase 50 mln shares, giving it a 79% controlling stake. Shanda Games will trade under the ticker symbol "GAME."
Shanda Games's revenue reportedly grew by 43% YoY in H1 2009, reaching USD 322 mln, with profits up 75% YoY to USD 98 mln.
Keywords: GAME online gaming Shanda Shanda Games H1 2009 Internet IPO Nasdaq revenue SNDA profit
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