IPO News Archive
Shanda Games prices IPO at $12.50, the high end of its range

9/25/09


Shanda Games Limited, a spin-off of Shanda Interactive's leading online games business in China, raised just over $1 billion by offering 83,500,000 ADSs at $12.50 per ADS, the high end of the range of $10.50 to $12.50. On Wednesday, the China-based company increased the number of shares to be offered by 33% in response to strong institutional demand. Shanda's offering marks the first US-listed IPO to raise more than $1 billion in 2009 and the second Chinese online game company to go public this year, following the $120 million IPO by Changyou.com (CYOU) in April. Shanda Games Limited plans to list on the NASDAQ under the symbol GAME. Goldman Sachs (Asia) L.L.C., J.P. Morgan, and Nomura Securities acted as lead managers on the deal.

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