Shanda launches roadshows

Roadshows begin today for the IPO of China''s biggest online gaming company.

After an extended four-week pre-marketing period, roadshows were finally launched yesterday Tuesday for a Nasdaq IPO by Shanda Interactive Media. The 17.5 million ADS offering is being pitched between $13 and $15 and should raise $225 million to $260 million prior to the exercise of a 15% greenshoe.

The Goldman Sachs-led deal is scheduled to price on May 11, with Bear Stearns, CLSACIBC, HSBC and Piper Jaffray as co-leads. The transaction will combine old shares...

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