Chinese online gaming portal 9you.com has been approved for listing on the Osaka Stock Exchange Market on July 12, 2007.
9you.com plans to issue 97000 shares of stock in Japan, including 46000 for initial public offering and 51000 for the second offering. The price of each share of stock has not been fixed and it is not known how much funds the company will raise through this IPO.
9you.com had previously planned to get listed on NASDAQ, but it later changed its focus to Japan in June 2006. Many Chinese companies are starting to look to Japan or the United Kingdom for overseas listings, since the barriers to entry are much lower.