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Media

Shanda IPO Taking Shape (SNDA, GAME, CYOU, SOHU)

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By Douglas A. McIntyre Published
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The spin-off IPO for Shanda Games Limited (NASDAQ: GAME) is coming next week and the company has set the expected price band for its 63+ million American Depositary Shares in range of $10.50 and $12.50 per share.  The company is a wholly-owned subsidiary of Shanda Interactive Entertainment Limited (NASDAQ: SNDA) and will in many ways continue after the IPO to effectively be under the parent.

The inspiration for this was this the successful Changyou.com  (NASDAQ: CYOU) spin-off IPO from Sohu.com (NASDAQ: SOHU).  Changyou has effectively doubled since its IPO.

The company is offering 13,043,500 ADSs, and Shanda Interactive is selling the remaining 50 million ADSs. Each ADS represents two class A ordinary shares of Shanda Games.  This has Goldman Sachs (Asia) as the lead underwriter along with J.P. Morgan and the co-manager is Nomura Securities.

Earlier this month it had filed an SEC registration statement to raise approximately $800 million in a partial spin-out IPO.

JON C. OGG
September 16, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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