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The9 Intends to be PrivatizedMar 12, 2013 (SinoCast Daily Business Beat via COMTEX) -- Zhu Jun, chairman and CEO of China's online game developer and operator The9 Limited (NASDAQ: NCTY), has been meeting investment banks and private fund owners to search for financial support. According to reliable news, the fund to be raised by Zhu may accelerate the privatization of The9. It is said that The9 would be China's third company (with concept stocks) that plans to delist from the US after the same practice of Shanda Interactive Entertainment Ltd. and Focus Media Holding Limited (NASDAQ: FMCN). Though The9 declined to respond to the process of privatization, a authority disclosed that Zhu has been trying his best to fund the privatization. The fund is said to consist of The9's shareholders, private consortium and bankers, and Zhu himself needs to raise a large sum of money to guarantee his position as a big shareholder of the "new The9". The9's stock price per share and market capitalization are USD 2.79 and over USD 80 million (about CNY 400 million), while the stock price once hit a peak value of USD 20. Source: www.yicai.com (March 12, 2013) |