Shanda e-book unit file for IPO in the U.S.

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Shanda’s e-book unit or Shanda Literature?has just filed for IPO in the U.S. ?The news caused Shanda (SNDA) share price to rise 17% yesterday to US$51.45.

Earlier I have talked about this in Technode: Rumour: Shanda is going to list another of its divisions next year And I thought this IPO is going to be a good one, as the business is still growing.

Shanda has the copyright of most of the e-books in China. ?e-book download has already became very popular over the mobile phone. ?And, with the popularity of iPad and iPad-like devices, more and more people start reading books on their handheld devices.

Obviously, many investors are also thinking the same. ?Although it is unsure about the amount it is going to raise and the pricing, I believe it will be another hot Chinese internet IPO.

Author of Red Wired: China's Internet Revolution, the first book to completely survey the nature of China's internet. (http://redwiredrevolution.com/) She previously was the lead China technology reporter for South China Morning Post, one of Asia’s largest English-language daily newspapers. Her work allowed her to witness the rise of China’s Internet sector first hand and to talk to many of the entrepreneurs and industry experts. Currently she is an independent consultant and writer. She regularly writes on issues concerning China internet and technologies in Asia Times and Hong Kong Economic Journal. She graduated at the University of Hong Kong before earning a MBA at Hong Kong University of Science and Technology.