Shanda Interactive and China Finance Online tap equity markets

Shanda returns to the equity markets with a convertible while China Finance Online prices Nasdaq IPO.

Two Chinese e-commerce companies took full advantage of the latest bull run in the sector at the end of last week with well-received equity offerings on the Nasdaq.

A debut convertible by online gaming company Shanda Interactive was particularly impressive. The base offer size and greenshoe were both upsized and if the latter is fully exercised, the $275 million deal will rank almost twice the size of the $153 million IPO, priced only five months ago.

Both the IPO and convertible were led by Goldman Sachs and the difficult passage of the former relative to the ease of the latter, stands testament to the incredible volatility...

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