HONG KONG, April 22, 2013 /PRNewswire/ -- Shanda Games Limited (NASDAQ: GAME, " Shanda Games" or "the Company"), a leading online game developer, operator and publisher in China, announced today that its Board of Directors has approved the Company to fully participate in its subsidiary Actoz Soft Co., Ltd. (KOSDAQ: 052790.KQ)'s proposed rights offering in Korea.
Under its previous announcement, Actoz will issue 1,900,000 shares through the rights offering. The subscription price for the newly issued shares is expected to be fixed on May 30, 2013. The Board of Directors believed that it is important for the Company to fully participate in this offering in order to maintain its majority stake in Actoz as well as to strengthen its strategies to develop mobile game business and to further expand into the overseas market. As of April 19, 2013, Shanda Games owned approximately 51% stake in Actoz.
Actoz is a leading mobile game publisher and developer in Korea. Among some of its recent mobile games were "Million Arthur," "Final Fantasy I, II, III," "Monster Empire," "Battle Arena," and " Fallin Fallin." Actoz recently took the 8 th overall ranking on Google Play's global publishers by monthly revenue for January 2013.
This statement is not an offer to sell nor does it seek an offer to buy any securities in the United States or in any jurisdiction where such offer or sale is not permitted. Securities may not be offered or sold in the United States absent registration or an exemption from registration, and any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the company and management, as well as financial statements.