7Road Holdings Limited to List on SEHK Main Board
Online game developer 7Road Holdings Limited announced plans to list on the Main Board of the Stock Exchange of Hong Kong. The offering is expected to raise approximately HK$1.15 billion.
HONG KONG – Online game developer 7Road Holdings Limited announced on Friday, June 29, 2018, its intention to list on the Main Board of The Stock Exchange of Hong Kong (SEHK). The company anticipates raising approximately HK$1.15 billion (approximately $147 million USD) through its offering of 666.7 million shares. Trading is expected to commence under the stock code 797 on July 18, 2018.
The offering includes both international and Hong Kong public offer shares, totaling 666.7 million shares. If the over-allotment option is exercised, the total offering size could increase. The indicative price range for the shares is set between HK$1.50 and HK$2.22 per share. The net proceeds, after deducting underwriting fees and expenses, are estimated to be around HK$1.15 billion, assuming the offer price is the midpoint of the range.
Established in 2008, 7Road is a China-based developer and operator of online games, with a focus on casual shooting and strategy role-playing games (SRPGs). According to an iResearch Report, the company was the top web game developer in China by revenue in 2017. It has launched and operated 16 web titles, including several chart-toppers.
Key titles for 7Road include DDTank and Wartune, which have achieved substantial player bases and market recognition. The company has also expanded its development to mobile and H5 games to cater to the growing smartphone user market. Its game development center in Shenzhen utilizes user behavior data analysis to enhance existing games and develop new titles.