Feb. 20 (Bloomberg) -- Chukong Technologies Inc., a Chinese mobile-gaming company, plans to seek about $150 million through an initial public offering in the U.S., said two people with knowledge of the matter.
Deutsche Bank AG and Morgan Stanley are helping prepare the IPO, said the people, who asked not to be identified because the information is private. Chukong, based in Beijing, aims to start the offering in the second half, they said.
Founded in 2010, Chukong develops leisure games for smartphones, according to the company’s website. Fishing Joy, one of its most popular games, has attracted more than 200 million users in China, the website shows.
Chinese companies raised $907 million in U.S. initial offerings last year, more than five times the amount for 2012, according to data compiled by Bloomberg. JD.com Inc., backed by Russian billionaire Yuri Milner’s DST Global, filed last month to raise $1.5 billion in what would be the largest IPO of a Chinese Internet company in the U.S.
Chukong’s investors include Northern Light Venture Capital, Steamboat Ventures, Sequoia Capital and GGV Capital, the website shows. The phrase chukong means touch and control in Chinese. Sequoia is the only venture investor in WhatsApp Inc., the mobile messaging service that Facebook Inc. yesterday agreed to buy for as much as $19 billion.
Officials at Chukong’s Beijing office were not immediately available to comment on the IPO plan.
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