Quick Take: Tencent to Invest 3 Billion Yuan in Shanda Game
Social media giant Tencent Holdings plans to invest 3 billion yuan ($474 million) into online game developer Shanda Games in a strategic partnership.
The investment is the last fundraising of Shanda before its planned public offering on the domestic market, sources close to the matter told Caixin.
Shanda was listed on Nasdaq in 2009 in the largest initial public offering that year in the U.S. market. The company delisted from the market in a privatization plan announced in 2014 as it prepared to list domestically. The privatization was completed in November 2015.
Shanda is planning to list on China’s A-share market in the first half this year, according to Wang Jie, chief executive officer of Shanda’s parent Zhejiang Century Huatong Group Co.
Shanda was an early leader in China’s online games market, with popular titles such as fantasy role-playing games The World of Legend and Dragon Nest.
A person close to the deal said Tencent is attracted to Shenda’s game development capabilities and intellectual property holdings. The two companies earlier had started partnering in game distribution, the source said.
Tencent in recent years has stepped up its expansion in the global online game market with investments in U.S. game developers Riot Games Inc., Epic Games Inc. and Activision Blizzard Inc. In 2016, Tencent bought the majority of Finland-based “Clash of Clans” mobile game maker Supercell for $8.6 billion.
Contact reporter Han Wei (firstname.lastname@example.org)
Jan 21 17:02
Jan 21 09:48
Jan 21 05:19
Jan 21 05:12
Jan 21 05:08
Jan 20 14:34
Jan 20 10:52
Jan 19 19:10
Jan 18 07:20
Jan 18 07:18
Jan 18 07:14
- 1Wuhan Virus Latest: Official Infection Count Nears 450 as Outbreak Spreads
- 2Corrupt Chinese Official Pours Moutai Down the Drain
- 3How Did Two Women Drive a Luxury SUV Into the Forbidden City?
- 4Update: U.S. and China Sign Phase One Trade Deal
- 5JD.com Doubles Down on Smaller-Cities Expansion to Bolster 2020 Growth
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas