Comment on Web Game Developer Forgame Launched Roadshow To Raise Up To HK$1.73 Billion in Hong Kong IPO by Chinese Game Developer Feiyu Technology Files for Hong Kong IPO - TechNode

['Emma Lee', 'More Emma Lee', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2013-09-17 00:00:00

Forgame, a leading web game developer and publisher in China, launched roadshow on Sept. 16 to prepare for the debut on Hong Kong stock market on Oct. 3. The company planned to raise between HK$1.36 billion ($175.39 million) and HK$1.73 billion in IPO at an issuing price between HK$43.5 and HK$55 per share (report in Chinese). Feiyin Games and Jieyou Games, two game development subsidiaries of the company, released more than 20 online games. The latter reportedly recorded more than 10 million yuan of revenue as of May this year. Forgame was the No.1 web game developer in China, accounting for 24% of the net profit of China’s web game development industry in 2012, according to iResearch, an independent research institution.