Online games firm plans NASDAQ list
30 November 2004
Online game operator The9, ranked no. 2 in China, said it plans to raise as much as US$107.81m through listing on the NASDAQ and use the proceeds to expand its sales and marketing program, as well as finance new licensing deals and acquisitions. Competitor Shanda Interactive Entertainment staged its NASDAQ initial public offering in June, raising over US$150m. Shanda shares started with an issue price of US$11 and now trade at over US$41. The9 shares are expected to have an issue price of around US$14.