Grand Games landing next week in Na City to raise 788 million dollars

Shanda Network (Nasdaqgs:snda) 's network game business Shanda Games will be on the Nasdaq IPO on September 25, with a planned maximum financing of 788 million dollars. It is reported that the Grand game this plan issue 63 million shares, the price of 10.50 U.S. dollars to 12.50 U.S. dollars.　　After the IPO, the parent company's Grand network will hold a 78% per cent stake in the grand game and 97% of the vote, because it has a preferred right to vote for the Class B stocks it holds.　　Grand Chairman Chen previously believed that the purpose of the IPO is to speed up the grand development of an interactive entertainment media business. There are two profit models for Shanda gaming: Charging games based on game time; in a free version, revenue is generated by selling virtual props such as weapons, clothing or pets. Shanda's earnings and profits grew rapidly in the first half of the year, up 43% per cent to $322 million trillion, while net profits grew 75% per cent to $98 million trillion, the company reported September 4. According to IDC, a market-research firm, the total number of Chinese online gamers reached 30 million in 2008 and is expected to double by 2013.