Invite colleagues
When most people are pouring cold water on the prospects of doing IPO’s we see Chinese game company, Changyou.com Limited go out and have a great first day of their public listing. They ended their first day of Nasdaq trading at USD20.02, up USD4.02 from its starting point.
This massively multi-player online role-playing games company is the subsidiary of Chinese Internet portal Sohu.com Inc.,so this may explain the interest in this company but still a great outcome in this market.
Sohu will hold approximately 70.7% of the total outstanding equity interests in Changyou and control 81.5% of the total voting power.
It was reported in the China Tech News that Dr. Charles Zhang, chairman and CEO of Sohu.com, stated, “Today’s IPO represents a new and significant chapter in Sohu’s corporate history. We believe that Changyou’s carve-out IPO allows for a sharper focus on the MMORPG business and related strategic opportunities while simultaneously helping us to pave the way for Sohu to push ahead with our long-term vision to maintain our position as a leading Internet company in China. Following the IPO, Sohu remains as Changyou’s majority shareholder, and we expect to continue to provide Changyou with strong marketing and game development support.”
So lets sit back amd watch as the market starts to digest the opportunities of owning a Chinese game company.
Written on Wednesday, 02 September 2009 13:21 by Matt McDougall
