HONG KONG, Jan. 15, 2013 /PRNewswire/ -- Shanda Games Limited (NASDAQ: GAME, " Shanda Games"), a leading online game developer, operator and publisher in China, announced today that its subsidiary, Actoz Soft (KOSDAQ: 052790.KQ), has reached a share price of over KRW50,000, marking a milestone for the company and a historical high in market capitalization of over 400 million US dollars.
During the trading session on January 14, 2013, the share price of Actoz increased 14.1% to close at KRW52,500, a record high over the past three-year period, surpassing the previous high of KRW46,900 set on September 24, 2012.
"We are delighted that the share price of Actoz has reached a record high," said Mr. Xiangdong Zhang, Chief Executive Officer of Shanda Games. "We believe it reflects the strength of recent progress by Actoz's mobile games in Korea. We will continue to enrich our mobile game portfolio and dedicate our efforts to further developing our business in both Korea and China to continue maximizing shareholder value in the future."
As of September 30, 2012, Shanda Games owns 4,795,954 shares of Actoz, equivalent to 51.2% of Actoz's total shares.Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this announcement that are not historical facts, represent only the Company's current expectations, assumptions, estimates and projections and are forward-looking statements. These forward-looking statements involve various risks and uncertainties. Important risks and uncertainties that could cause the Company's actual results to be materially different from expectations include but are not limited to the risks set forth in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.