HONG KONG, Sept 25 (Reuters) - Chinese video game operator, Shanda Games Ltd priced its U.S. IPO at the top of its indicated range to raise $1 billion, the largest U.S. IPO this year, a source said on Friday.
The company, being spun off from Shanda Interactive Entertainment, priced its American Depositary Shares at $12.50 each, versus a previously announced range of $10.50 to $12.50, a banking source told IFR Asia, a sister publication of Reuters.
The $1 billion raised was revised upwared from a previous $725 million target, according to a term sheet obtained by IFR Asia. (Reporting by Fiona Lau; Writing by Doug Young; Editing by Chris Lewis)