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IFR Asia-Shanda Games prices IPO at top of range -source

Published 09/24/2009, 11:32 PM
Updated 09/24/2009, 11:39 PM
TGT
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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)

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