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Powerleader, to IPO

Netease Tech, 1/25/10

Online game developer and operator Shenzhen Powerleader Network and software products and information technology services provider Technology today both announced plans to IPO on February 2, raising RMB 350 mln and RMB 147 mln respectively.

Powerleader will issue 25 mln shares and invest the funds in three new online game projects. Powerleader currently operates self-developed MMORPG 7Heroes, self-developed military style MMORPG Kangzhan (PK1937) and MMORPG Tiandao (Way of Heaven). In the first half of 2009, Powerleader's primary business revenues grew 74% YoY, and grew by 225% YoY in 2008 and 93% YoY in 2007. Powerleader recorded net profits of RMB 17.68 mln, RMB 36.66 mln and 8.28 mln in 2007, 2008 and H1 2009, respectively. Technology, a Xiamen-based network application services provider, plans to issue no more than 13.5 mln shares to fund three separate projects: upgrading its corporate email services, CRM management software and technical support and marketing center.

Keywords: Internet IPO software online gaming Power Leader Network revenue profit


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