Web Game Developer Forgame Launched Roadshow To Raise Up To HK$1.73 Billion in Hong Kong IPO

Forgame, a leading web game developer and publisher in China, launched roadshow on Sept. 16 to prepare for the debut on Hong Kong stock market on Oct. 3.

The company planned to raise between HK$1.36 billion ($175.39 million) and HK$1.73 billion in IPO at an issuing price between HK$43.5 and HK$55 per share (report in Chinese). Industry insiders predicted that the capital raised this time will be invested in expanding mobile gaming business.

Forgame has secured millions of dollars in Series A financing from TA Associates, Qiming Venture Partners and Ignition Capital Partners in 2012.

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