Rumor: VODone to Spin off Mobile Gaming Unit in September

Tencent Tech, 8/22/12

A source at Chinese online video broadcasting and video advertising company VODone (0082.HK) revealed today that the company has settled on plans to spin off its mobile game business as an independent company that will list on the Nasdaq Stock Exchange on September 25, 2012. In August 2011, VODone chairman Zhang Lijun told Tencent Tech that the company was on track for a US IPO for its mobile game business. On March 8, 2012, VODone issued a public filing announcing that it had received SEHK approval to spin off its mobile game and mobile solution design businesses.

Editor's Note: VODone's mobile gaming subsidiary is China Mobile Games and Entertainment Group (CMGE), which recorded revenue of USD 31 mln in 2011 according to a recent Forbes news.

Keywords: mobile gaming Zhang Lijun IPO Nasdaq revenue wireless video advertising VODone 0082.HK CMGE

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily