Chinese Online Game Developer Giant Interactive Looking to Raise $735 Million in IPO

Monster IPOs keep coming out of China … Giant Interactive Group, a developer of online games, hopes to raise up to $735 million, pre-expenses, through a NYSE IPO, according to an SEC filing. The company intends to sell 52.5 million shares, at a price range of $12-$14. The creator of ZT Online, which it claims is China’s most popular online role playing game, booked revenue of $90.3 million through the first half of the year, up 833 percent over the same period last year. For the full year 2006, revenues were $53.6 million. Net income so far this year is $67.3 million, up 1,143 percent from last year. Giant’s primary revenue source is the sale of in-game virtual goods, although it plans to roll out pay-for-play games going forward. Shares will trade under the ticker “GA”. Filing.

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