Chinese online game developer Giant Interactive Group Inc. is expected to become the first US-listed Chinese online game company to get re-listed on domestic stock market through making a backdoor listing via Shenzhen-listed Chongqing New Century Cruise Co., Ltd. (002558.SZ).
Chongqing New Century Cruise Co., Ltd. announced on Friday that it had signed a restructuring framework agreement with Giant Interactive Group and the group's actual holder Shi Yuzhu to buy a 100-percent stake in Giant via making private placement to all shareholders of Giant.
Giant Interactive debuted on New York Stock Exchange in November 2007. It completed its Going Privatization transaction and was delisted from the exchange in July 2014, making it the first of its kind that was delisted from the US stock market.
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