The Digital Source For China's Tech Innovation Since 2000

Search
Close

Chinese Internet IPO Shoots Skyward

April 3, 2009
Business | Internet

The massively multi-player online role-playing games subsidiary for Chinese Internet portal Sohu.com Inc., Changyou.com Limited, ended its first day of Nasdaq trading at USD20.02, up USD4.02 from its starting point.

Of the total of 7,500,000 American Depositary Shares of Changyou that were being offered in the initial public offering, 3,750,000 ADSs were being offered by Changyou and 3,750,000 ADSs, plus up to an additional 1,125,000 ADSs to cover over-allotments, are being offered by an indirect wholly-owned subsidiary of Sohu.

Sohu will hold approximately 70.7% of the total outstanding equity interests in Changyou and control 81.5% of the total voting power.

Dr. Charles Zhang, chairman and CEO of Sohu.com, sstated, "Today's IPO represents a new and significant chapter in Sohu's corporate history. We believe that Changyou's carve-out IPO allows for a sharper focus on the MMORPG business and related strategic opportunities while simultaneously helping us to pave the way for Sohu to push ahead with our long-term vision to maintain our position as a leading Internet company in China. Following the IPO, Sohu remains as Changyou's majority shareholder, and we expect to continue to provide Changyou with strong marketing and game development support."

Tags: American depositary shares | Business | CEO | chairman | Changyou | Changyou.com | Charles Zhang | China | Chinese | development | entertainment | game | game development | games | initial public offering | Internet | Internet game | Internet portal | investment | ipo | marketing | MMORPG | nasdaq | online | online game | portal | power | Sohu | stock market | technology

Other Related News:

First China Regional PR Manager Meeting Of Kempinski

January 26, 2010

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Receives $125.34 Consensus Price Target from Analysts Stock Observer

November 6, 2021

Cisco Eyeing IT Businesses In Sichuan

June 16, 2006

Amidst Crackdown on Crypto, China Issues Certificate to Blockchain Project: See the Proof

October 23, 2021

Intel's Chinese Website Fails To Register

December 20, 2005

News at a glance: A COVID-19 drug nixed, a Chinese database investigated, and a new energy research leader confirmed

May 20, 2022

EMC To Open China Software Development Center

June 25, 2006

MII To Regulate Mobile Phone Charger Standard

January 22, 2007

Europe Doorbell Camera Market Is Progressing Towards A Strong Growth By 2027 August Home, AUXTRON, Hangzhou Hikvision Digital Technology, IFIHomes

December 24, 2021
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....