Key Developments For Shanda Interactive Entertainment Limited
Shanda Interactive Entertainment Limited (SNDA.O) (Nasdaq)
Shanda Interactive Entertainment Limited's Shanda Pictures Limited Announces Joint Venture With Hunan Broadcasting and Television Group
Shanda Pictures Limited (Shanda Pictures), a wholly owned subsidiary of Shanda Interactive Entertainment Limited, announced a strategic cooperation to invest an aggregate of RMB 600 million to establish a joint venture company (Joint Venture), which will produce and distribute movies and television series, as well as engage in other related businesses such as agency services. The Joint Venture's first project will be a remake of a TV series, Princess Huanzhu, which was adapted from the romantic novel of the same name by renowned Taiwanese writer, Qiong Yao.
Shanda Interactive Entertainment Limited's Shanda Games Limited Announces Planned Terms For IPO-DJ
Dow Jones reported that Shanda Games Limited announced estimated terms of its planned initial public offering (IPO) as parent Shanda Interactive Entertainment Limited plans to sell 50 million American depositary shares. Shanda Games earlier this month made an initial filing with the Securities and Exchange Commission, saying it planned to sell up to an estimated $800 million of ADS. Shanda Games will sell 13 million ADS while Shanda Interactive will sell another 50 million. The estimated price range is $10.50 to $12.50 each. Shanda Games expects to use net proceeds from the 13 million ADS sale for purposes including capital spending and funding any possible investments, joint ventures and acquisitions. Shanda Games has applied to have its ADS listed on the Nasdaq Global Select market under the symbol GAME.
Shanda Interactive Entertainment Limited Plans to List Shanda Games Limited in U.S.-WSJ
The Wall Street Journal reported that Shanda Interactive Entertainment Limited plans to spin off its video games unit, Shanda Games Limited, and raise as much as $800 million in a initial public offering on the Nasdaq stock market.
Shanda Interactive Entertainment Limited Issues Q3 2009 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Shanda Interactive Entertainment Limited announced that for the third quarter of 2009, it expects consolidated net revenues to increase by a rate in the range of 8% to 11% quarter over quarter. The Company reported revenue of $181 million in the second quarter of 2009. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $195 million for the third quarter of 2009.
Shanda Interactive Entertainment Limited's Subsidiary Shanda Games Limited Announces Filing of Registration Statement for Initial Public Offering of American Depositary Shares
Shanda Games Limited, a wholly owned subsidiary of Shanda Interactive Entertainment Limited, announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (the SEC) for an initial public offering (IPO) of American Depositary Shares (ADSs). The offering will include secondary shares to be sold by Shanda. The number of ADSs to be offered and the price range for the offering have not yet been determined. Goldman Sachs (Asia) L.L.C. and J.P. Morgan Securities Inc. are serving as joint bookrunners for the offering.
