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Shanda Games keen to list in Shanghai

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eastunder Member Level  Tuesday, 03/08/11 01:58:36 PM
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Shanda Games keen to list in Shanghai


Shanda Interactive Entertainment Ltd
BEIJING, March 6 | Sun Mar 6, 2011 6:44am EST

BEIJING, March 6 (Reuters) - Chinese internet media firm Shanda Interactive Entertainment (SNDA.O) said on Sunday its unit Shanda Games (GAME.O) is keen for a listing on the mainland's stock exchange when rules allow.

China has long said it wants to open its stock market to foreign companies via an international board on the Shanghai Stock Exchange.

Like foreign companies, Chinese companies incorporated in a foreign country are not allowed to sell shares on the mainland.

Shanda Interactive Chairman Chen Tianqiao said once the international board is ready, Shanda Games, a game developer based in Shanghai, will apply for a listing immediately.

"It would be great if we can return (to the mainland stock markets). Every company wants to share the fruits of its country's economic growth," said Chen, describing his companies as "orphan stocks" because they are listed in the United States although their businesses are in China.

Chen was speaking to Reuters on the sidelines of the annual Chinese Communist Party's consultative meeting. (Reporting by Huang Yuntao; Writing by Soo Ai Peng; Editing by Jon Loades-carter)


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