Forgame starts bookbuilding for $223m IPO

Chinese online game developer Forgame Tech launched its HK$1.73bn ($223m) IPO on September 16.

  • By Rev Hui
  • 20 Sep 2013

The price range for the deal is HK$43.50-HK$55.00. That gives Forgame a 2014 P/E multiple of 9.3-12 times, a discount to the 2014 P/E of 13 times for listed comparable NetDragon Websoft.

Forgame is offering 31.3m shares, a 25% free float. Some 65% of the deal is primary ...

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