Perfect World announced a $1.8 billion deal that would make it the latest in a wave of Chinese companies returning home after giving up on the U.S. stock market. Under the agreement, Shenzhen-listed Perfect World Pictures Co. will buy all the assets of an affiliate formerly listed on the Nasdaq Stock Market in exchange for its shares, according to a statement to the exchange Wednesday after markets closed.
The gaming company isn’t alone in returning home as Focus Media Holding Ltd. and China Mobile Games & Entertainment Group Ltd. have used means such as reverse mergers or asset injections to come back to Chinese equity markets. Separately, Perfect World Pictures plans to raise as much as 5 billion yuan by selling shares to four investors to fund film making, game development and pay back loans, according to the statement.
Source: Bloomberg Business
