Cloudary Corp., the online original literature business under Shanda Interactive, will possibly launch the long-planned IPO in next April, as reported by Sina Tech (source in Chinese). Merrill Lynch will still be one of the underwriters — it was removed from underwriter list sometime in last year. Shanda spokesperson declined to confirm it given the quiet period.

Earlier this month, Shanda appointed Robert Chiu, former managing director of Merrill Lynch, as president of Shanda Interactive and chairman of Cloudary. The appointment was seen as a help for Cloudary’s IPO. “We’ve been ready for IPO for a while, but we don’t have to when the stock market condition is discouraging”, Chiu said in a recent interview (article in Chinese).

Cloudary filed with SEC for IPO on the New York Stock Exchange to raise up to USD 200 million in mid-2011 and submitted a revised document earlier this year. In the meantime, its parent company delisted from NASDAQ.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com