investors-like-the-idea-of-a-perfect-world

Investors like the idea of a Perfect World

The Chinese online game developer prices its IPO $2 above the range after receiving substantial demand from investors. The shares trade up a further $4 in the aftermarket.
Chinese online game developer Perfect World has raised $188.8 million from its initial public offering after strong demand prompted it to fix the price 14.3% above the top of the initial price range.

The book was over 20 times covered and attracted more than 350 investors, according to a source. Of the demand, 55% came from the US, 30% from Asia and 15% from Europe.
The investors include some of the largest US-based technology funds, high-quality global institutions and China specialists as well as hedge funds. There was no price sensitivity in the book and the one-on-one hit rate from the roadshow was over 90%.

ôThe company is in a leading market position,...
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