Jade & Fountain advised Shanda Games and its parent company, Shanda Interactive Entertainment, as their PRC counsel on its Initial Public Offering on the U.S. based NASDAQ stock exchange in September 2009. The Shanghai based Shanda Games develops and operates multiplayer online video games for its 10 million users in China. The listing opened at US$12.50, and US$1.04 billion was raised. The listing is the largest IPO in the U.S. for 2009 and one of the largest ever single-listed IPO by any China-based company. Goldman Sachs (Asia) L.L.C. and J.P. Morgan Securities Inc. were the joint bookrunners for the offering.
Jade & Fountain had previously advised Shanda Games' parent company, Shanda Interactive Entertainment, on its public offering of convertible senior notes last year valued at US$155 million. Jade & Fountain's legal team was led by Scott Guan and Jeffrey Yang, partners of the firm's capital markets group.
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