completes first Nasdaq listing for 2009

The online gaming subsidiary of is successfully spun-off in a $120 million IPO.

Chinese online game operator and developer yesterday became the first company to list on Nasdaq in 2009 and the first Chinese company to list in the US since early August last year. The company, which is a spin-off from Chinese internet portal operator, set the price at the top of the indicative range, allowing it to raise $120 million.

Sources say the deal could have been priced above the initial range of $14 to $16, as is allowed...

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