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IPO - Friday, October 19, 2007

China IPOs: Noah and Giant

Shenzen's Noah Education Holdings, which sells interactive education in China, raised $137.9 in its IPO. The company priced 9.85M American depository shares at $14 per share, well above its $9.80-$11.80 per share range. It will begin trading on the NYSE under ticker symbol NED. Shareholders are Baring Private Equity Partners, Lehman Brothers Commercial Corp. Asia and Dynamic View Investments. The company was founded in 2004 and has over 900 employees. Noah had revenues of$73M and net income of $9M.

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Giant Interactive which builds role-playing games is launching an $800M IPO. It was formerly known as ZTgame and ts first internally developed game, ZT Online, was launched in 2006. The company says it sells prepaid game cards in more than 116K retail locations. The Shangai-based company had revenues of $135M and net income of $95M.

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Read - Reuters