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Shanda Eyes Possible IPO Of Online Game Business
May 26, 2009 |
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Chinese online entertainment and game developer Shanda Interactive Entertainment Limited says it plans to have its online business go public in the United States.
Shanda plans to submit a draft registration statement on a confidential basis to the U.S. Securities and Exchange Commission for a possible initial public offering of Shanda Games Limited, a Cayman Islands company which is currently wholly owned by the Company and operates the Company's online games business.
Some of purposes of the proposed IPO are to further Shanda's development as an interactive entertainment media company and to provide Shanda Games with a sharper focus and greater flexibility to pursue strategic opportunities in enhancing its leadership position in the online games sector in China.
Shanda expects to remain Shanda Games' majority shareholder after the completion of the proposed IPO. The number of shares proposed to be offered and sold and the dollar amount proposed to be raised in the proposed IPO have not yet been determined.
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Any news and/or any updates on Shanda Literature's online book publishing venture? Any online resources as to how it works?