Two Chinese online-game firms aim to raise a combined US$300 million from Hong Kong initial public offerings this year, even as investors sell off recent listings in the sector, the Wall Street Journal reported Tuesday.
Beijing-based Ourgame International Holdings Ltd., whose library includes “Fight the Landlord”, plans to secure up to US$100 million in Hong Kong and could list in the third quarter, the report said, citing people with direct knowledge of the deal. Linekong Interactive Co., also based in Beijing, plans to raise around US$200 million in the second half, the report said.
Prices for Chinese and and US internet companies have fallen over the last month but game firms continue to head to the special administrative region to list “partly because valuations for companies listed on the city’s stock exchange are often similar to, or higher than, those of their US-listed counterparts”, the report said.
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