ZTgame, China's third-largest online gaming company, has gotten $100 million in venture capital and is preparing to offer shares in their company to overseas investors who want to get in on the Mainland gaming action. ZTgame's most popular (and debut) offering is Zheng Tu, released last April - ZTgame declined to discuss the deal and what they will be doing with the money, but mounting a challenge to Shanda, the big dog in the domestic market, doesn't seem to be out of the question:
ZTgame, China's third-largest online-gaming company, has secured US$100 million from venture capitalists, taking it one step closer to offering shares to overseas investors by the end of the year, sources said.
"Several venture capitalists and individual investors bought into this company through private placements in August," said Bao Fan, chief executive officer of China Renaissance. "ZTgame has filed its listing application to US securities regulatory authorities and could hold the share offering by the year's end."
Bao declined to reveal further details of the deal. His company, a start-up investment bank, was ZTgame's fundraising advisor. Public relations officials from ZTgame also declined to comment on the deal.
More games? Expansion overseas? Who knows - but competition is heating up on the Mainland and it should make for verrrry interesting market watching over the next couple of years.
ZTgame secures investment by venture capital [China Daily]