Emergic: Rajesh Jain's Blog

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2004’s Best Performing IPO

December 22nd, 2004 · No Comments

No, it’s not Google. In fact, as on Friday, Google was 10th on the list. Barron’s writes: “The year’s best-performing IPO by far (among companies that raised at least $50 million) was Shanda Interactive, one of the largest online-gaming operators in China. With the help of Goldman Sachs, the company issued American depositary shares in mid-May for $11 apiece (each ADS represents two Chinese shares), and the stock quadrupled before retreating to 39. Although Shanda has been growing rapidly, its $2.6 billion market value is twice as large as current estimates of China’s total online-gaming market in 2008.”

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