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• norm said: I would like to know that also. Feb. 2006 I aquired shares.
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Perfect World Buys Back Shares
December 30, 2008 |
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Chinese online game developer Perfect World (PWRD) will repurchase 18,750,000 shares of its Class A ordinary shares for approximately USD56.6 million from SB Asia Investment Fund II, L.P., and an affiliate of SAIF.
Michael Chi, chairman and CEO of Perfect World commented, "Our current strong cash position provides us with the flexibility to execute the transaction without affecting our growth strategies. We are fully confident in our ability to successfully execute our business strategies and deliver long-term shareholder value."
Credit Suisse acted as exclusive financial advisor to the Perfect World in relation to the transaction. Prior to Perfect World's initial public offering in July 2007, SAIF had invested in the Perfect World's Series A Convertible Preferred Shares which automatically converted into the Class A ordinary shares upon the IPO. Currently, the company has two classes of ordinary shares, consisting of Class A ordinary shares and Class B ordinary shares. All ordinary shares have the same rights except for voting and conversion rights. Each Class A ordinary share is entitled to 10 votes while each Class B ordinary share is entitled to one vote on all matters submitted to shareholder approval.
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