Forgame Tech Said to Plan Online Games IPO in Hong Kong in 2013Fox Hu and Zijing Wu
Forgame Tech Co., a Chinese designer of online games, is planning an initial public offering of at least $100 million in Hong Kong, two people with knowledge of the matter said.
The Guangzhou-based company has submitted an application to Hong Kong’s stock exchange and plans to start the IPO this year, said the people, who asked not to be identified because the information is private. The size of the offering will depend on whether some shareholders choose to sell stock in addition to new shares being issued, the people said.
JPMorgan Chase & Co. and Morgan Stanley are among banks working on the offering, the people said. TA Associates and Qiming Venture Partners bought stakes in Forgame in July last year, according to the two investors’ websites.
Founded in 2009, Forgame has developed more than 20 cloud-based multiplayer games, according to its website. Two calls to Forgame’s head office in Guangzhou went unanswered.