Changyou.com (CYOU) Subsidiary 7Road.com to File for IPO
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Changyou.com Limited (Nasdaq: CYOU), and its majority shareholder, Sohu.com Inc (Nasdaq: SOHU), jointly announced that Changyou's majority-owned web games subsidiary 7Road.com Limited ("7Road") plans to submit on a confidential basis to the U.S. Securities and Exchange Commission (the "SEC") a draft registration statement for a possible initial public offering (or "IPO") of American Depositary Shares (or "ADSs") representing ordinary shares of 7Road. The number and dollar amount of ADSs proposed to be offered and sold have not yet been determined.
7Road's primary purposes for conducting the IPO, if commenced, include creating a public market for 7Road's shares and attracting and retaining talented employees by providing them with equity incentives.
The IPO may commence as early as market conditions permit, and is subject to 7Road's filing with the SEC a registration statement on Form F-1 in compliance with the U.S. Securities Act of 1933, as amended (or the "Securities Act"), and the SEC's declaring such registration statement effective.
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7Road's primary purposes for conducting the IPO, if commenced, include creating a public market for 7Road's shares and attracting and retaining talented employees by providing them with equity incentives.
The IPO may commence as early as market conditions permit, and is subject to 7Road's filing with the SEC a registration statement on Form F-1 in compliance with the U.S. Securities Act of 1933, as amended (or the "Securities Act"), and the SEC's declaring such registration statement effective.
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