Ningxia Zhongyin Cashmere (000982.SZ) announced late Wednesday that the going-private deal of China's leading online game company Shanda Games (GAME.NASDAQ), which its controlling shareholder Ningxia Zhongyin Cashmere Group had participated in, had made substantive progress.
Relevant parties under the going-private transaction have submitted replies to the U.S. Securities and Exchange Commission (SEC) upon the transaction's information disclosure, the company said.
Meanwhile, Shanda Games has announced it will hold an extraordinary general meeting of shareholders on November 18 of 2015 to consider and vote on the proposal of previously announced plan of merger for going private.
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