Thursday, November 01, 2007

Ga Giant !

Giant Interactive Start it's first day of trading with big splash. The shares gained almost 18%.

It's not as good as a Perfect World deal. However, it's not bad either considering a market crushing day in the US.

According to Netease tech report, Giant Interactive sold 57,197,423 ADS shares with about $886.6 million collected. Giant will mainly use the money for operational and acquisition needs

The deal made GA's IPO the largest from a private owned company in China.

According to CEO of Giant, Shi Yuzhu, the deal will make 21 people 100 million richer. It will also creates 186 millionaires or multi-millionaires.

A humble Shi claims GA is far from building a solid lead in China's online gaming industry. He likes the industry very much because it's clean balance sheet, simple operations with an already successful model. He'd like to continue to focus on product development and leave operations to other top managers.


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