Shanda’s Gaming Spinoff IPO to Open Tomorrow Morning; Expected Raise $1 Billion


Shanda (NSDQ: SNDA) Games, the online gaming spinoff from the big Chinese portal company, is teaching something to the U.S. companies: it is slated to debut its IPO tomorrow morning on Nasdaq, and expected to raise just over $1 billion in it. This will make it the biggest U.S. IPO so far this year, and the biggest Chinese IPO in U.S. as well. It has priced the shares at $12.50 a share, above the expected price range of $10.50 to $12.50, reports Marketwatch. The shares will be traded under the symbol GAME. The deal is being underwritten by Goldman Sachs, J.P. Morgan, Nomura, Oppenheimer and Susquehanna Financial.

Shanda is known for popular Chinese games such as The World of Legend, and in April it launched MMO game AION in China after licensing it from South Korea

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