Chinese video game maker to launch market debut in Hongkong

July 11
4:10 AM 2013

Forgame Tech Co., a video game production company, has presented its official initial public offering documents to Hong Kong's equity agency and plans to start the IPO later this year, said the sources, who requested not to be identified.

The Guangzhou-based designer of online games, Forgame Tech Co.,is planning a market debut of at least US$100 million in Hong Kong, two sources with knowledge of the deal said.The number of common stock to be offered, however, will largely depend on whether some current shareholders choose to sell their stock while new shares being issued.

Morgan Stanley and JPMorgan are among banks listed as underwriters, the sources said. According to the people, Qiming Venture Partners and TA Associates bought shares of Forgame Tech in the middle of 2012.

Forgame Tech , founded in 2009, has introduced at least 20 multiplayer games that are cloud-based, according to its website. Comments from representatives of Forgame Tech could not be obtained.

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