Tencent-backed Shift Up may price IPO at top end of band, source says [Yahoo! Finance Canada]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
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Source: Yahoo! Finance Canada
and raise $313 million, according to a source with direct knowledge of the matter. Books close this week and pricing is expected to be finalised on Monday, the source said. The source did not want to be identified since they are discussing confidential information. Shift Up did not have immediate comment when contacted by Reuters. If finalised, the pricing values the game developer's market capitalisation at 3.5 trillion won ($2.52 billion). Shift Up's second-largest shareholder is Tencent with a 40% stake, which is expected to shrink to about 35% after the public offering, analysts said. Tencent did not immediately respond to a request for comment. ($1 = 1,389.8100 won) (Reporting by Scott Murdoch in Sydney and Joyce Lee in Seoul; Editing by Christian Schmollinger and Lincoln Feast.)
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