Home>News Center>China

Shanda got 19.5% of Sina as top shareholder
Updated: 2005-02-20 15:06

Shanda Interactive Entertainment Limited, China's largest online game operator, announced Saturday that the company acquired 19.5 percent of the outstanding ordinary shares of Sina Corporation.

The deal was done together with Shanda's subsidiary Skyline Media Limited through open market purchases as of February 10, 2005, Shanda announced through its website.

The acquisition made Shanda (NASDAQ: SNDA) the largest shareholder of Sina (NASDAQ: SINA), one of China's key portal websites.

Shanda did not reveal the amount of money involved. Shanda officials said it did not "have any further public comment on this matter at this time."

In accordance with U.S. securities laws, Shanda has filed the U.S. Securities and Exchange Commission a statement, reporting the transaction and disclosing other matters required to be reported, said Shanda in its press release.

Stock price of Shanda and Sina, both listed companies in US NASDAQ, rose sharply late last night when the news spread over internet.

Shanda has a market value of 2.1 billion US dollars, compared with Sina's 1.3 billion dollars.

  Today's Top News     Top China News

Beijing opposes US-Japan statement on Taiwan



Eight suicide bombings in Baghdad kill 55



Building harmonious society CPC's top task



Experts cry for checking before marriage



Industrial growth rate drops slightly



Bush harbors no bitterness toward Chirac


  Shanda got 19.5% of Sina as top shareholder
  Famous winery ceded to private, foreign investors
  Freighter sinks, 7 missing in Beibu Gulf
  Beijing Olympic Village project gets approval
  Tourists trapped by snow rescued in Yunnan
  Building harmonious society CPC's top task
  Go to Another Section  
  Story Tools  
  Related Stories  
Sina's ads revenue hits US$52.5m
Yahoo! links up with 12 firms
Changing scenario: Shanda vs Sina?
Web portals facing tighter supervision
  News Talk  
  It is time to prepare for Beijing - 2008