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9you.com Seeks Tokyo Listing
June 19, 2006 |
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Chinese online gaming portal 9you.com, which had previously planned to get listed on NASDAQ, has changed its focus to Japan and is busy with restructuring for its initial public offering.
Wang Zijie, CEO and chairmain of 9you.com, would not disclose further details to the media, except to say that the company is still debating which location is best for its IPO.
Wang said there was not a particular reason for choosing Japan, other than the company's only criteria for judging a market is whether it is conducive to the company's business development.
In May last year, 9you.com received US$5 million investment from Dragon Groove, a venture capitalist that has some Japanese background and later became the largest shareholder of 9you.com.
Prior to the Dragon Groove investment, 9you.com raised US$14 million investment from The Carlyle Group, China Merchants and Fortune and The Sino-Korea Wireless Fund.
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