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Changyou.com prices $120m IPO at top - source

(Agencies)
Updated: 2009-04-02 15:23

Chinese online gaming firm Changyou.com Ltd priced its $120 million Nasdaq initial public offering at the top of its indicated range on Thursday, a source familiar with the deal said, after the issue generated robust investor demand.

Related readings:  Sohu gaming arm Changyou.com readies NASDAQ IPO  Changyou.com sees robust response to Nasdaq IPO  China's online gaming sector posts 77% surge in revenue  China's online game firms record $70m in overseas sales

The listing is set to be the first on Nasdaq since November.

Changyou.com, which is being spun off by mainland Internet portal Sohu.com, priced 7.5 million American Depositary Shares at $16 each -- the top of a $14-$16 range -- in a deal handled by Credit Suisse and Merrill Lynch.