Changyou.com Limited (CYOU: Quote), an online game developer and operator in China, and its majority shareholder, Sohu.com Inc. (SOHU: Quote) jointly said Monday that Changyou's majority-owned web games subsidiary 7Road.com Limited plans to submit on a confidential basis to the U.S. Securities and Exchange Commission a draft registration statement for a possible initial public offering of American Depositary Shares representing ordinary shares of 7Road.
The number and dollar amount of ADSs proposed to be offered and sold have not yet been determined.
7Road plans to conduct the IPO to create a public market for its shares as well as attract and retain talented employees by providing them with equity incentives.
Click here to receive FREE breaking news email alerts for Changyou.com Ltd. and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com