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Giant Interactive Goes Public
November 2, 2007 |
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| Category: Business
Chinese online gaming company Giant Interactive's (GA) initial public offering of 57,197,423 American Depositary Shares was priced at an initial offering price of US$15.50 per ADS.
Of the 57,197,423 ADSs sold in this offering, 52,467,723 ADSs were sold by Giant and the remainder by the selling shareholder. The gross proceeds from the sale of ADSs are approximately US$886.6 million.
Giant intends to use the net proceeds from this offering for general corporate purposes, including capital expenditures and funding possible future acquisitions. Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Investment Bank are acting as the joint global coordinators and joint book runners for this offering.
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