Caixin
BUSINESS & TECH

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.

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