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Shanda Sells Sina Shares
February 9, 2007 |
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| Category: Internet
Chinese online game company Shanda (SNDA) will sell an aggregate of 4,000,000 ordinary shares of Sina.com (SINA), representing an net proceeds of approximately US$129,600,000.
The sale of the Sina.com shares is expected to be completed on or about February 13, 2007. Following the sale, Shanda will continue to hold 2,118,278 SINA shares, representing approximately 3.9% of the issued and outstanding share capital of Sina.com, calculated based on information furnished by Sina.com in its public filings with the United States Securities and Exchange Commission.
In accordance with the United States securities laws and regulations, Shanda will promptly file with the SEC an amendment to its statement of beneficial ownership on Schedule 13D reporting the transaction and disclosing certain other matters required to be reported on the Schedule 13D.
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