SHANGHAI, Oct 31, 2007 (SinoCast via COMTEX) -- GA | charts | news | PowerRating -- Giant Interactive Group Inc. is to debut the New York Stock Exchange under the symbol of "GA" in the evening of November 1, 2007.
It is to offer about 66 million shares at a price range from USD 12 to USD 14. Plus the strategic investment from Standard Chartered, it is to raise USD 800 million to USD 1 billion through the share offering, making its IPO the largest among China's private companies.
Its prospectus filed with the US Securities and Exchange Commission on October 13 shows that Giant is to sell 54.39 million public shares, representing 20% of its enlarged share capital. The founder Yuzhu Shi held 14,000 shares before the listing, or 68% of its original share capital. 18 other individual shareholders, mostly, the top management, together held 54.59 million shares.
The lead underwriters are Merrill Lynch and UBS.
Giant's operating revenue from January through June amounted to CNY 687 million and net profits reached CNY 512 million. ZT Online, one of its strengths, made a record high of 1.07 million simultaneous online players in the second quarter, with 515,000 online players on average.
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