Perfect World buys back stock from shareholder
June 2, 2009 – 1:39 amPosted by: sdfasdfsadf
NEW YORK (AP) -Perfect World Co., a Chinese online game developer and operator, said Monday it agreed to buy about 1.2 million Class A and about 11.3 million Class B shares for $52.4 million.
Perfect World is buying the shares from SB Asia Investment Fund II LP. The fund had invested in the company’s Series A convertible preferred shares before Perfect World’s initial public offering. At the time of the company’s 2007 IPO, the shares converted into Class A shares and some further converted into Class B shares.
The company’s American depositary shares, each of which represents five Class B shares, closed Friday at $21.19.
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From: http://www.google.com/hostednews/ap/article/ALeqM5hX7rHOYUSJQassJehLOR9dfrzDDQD98HS4101
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