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Oct 30, 2007
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China is receiving closer attention from Wall Street as two Chinese MMORPG developers prepare to go public next week. Shanghai based Giant Interactive will list on the New York Stock Exchange on October 31 under the ticker "GA".
The company will raise over US $ 800 million for a market capitalization of over US $ 3 billion, making it the largest online game company in China. Fujian based NetDragon has filed to raise up to HK $ 1.42 billion (US $ 1=HK $ 7.8) on the Hong Kong stock exchange. NetDragon is expected to begin trading on November 2 under the stock ticker "8288".
Giant Interactive's Prospects
Giant Interactive operates the second most populous game in China, Zhengtu Online. Zhengtu was quietly launched in early 2006 but quickly gained traction, recording over 1 million peak concurrent users by May 2007. Part of the reason behind the game's success is Giant Interactive's owner Shi Yuzhu, who also runs one of the most successful health supplement business in China. Shi took the same marketing and distribution juggernaut that turned a melatonin product into one of the most recognized brands in China and applied it to online games.
