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Mop.com and Kingsoft seek overseas listing
By AMY CHEUNG
Published: July 16, 2006 12:00 AM
Popular Chinese Web portal Mop.com and Beijing-based online game firm Kingsoft are planning overseas listings next year, Reuters reported.   The Reuters cited The Standard that Mop.com planned to raise US$200 million in an initial public offering on Nasdaq in the second quarter of next year, while Kingsoft wanted to raise HK$780 million (US$100 million) in a Hong Kong IPO before the end of 2007.   Mop.com had 30 million registered users and the capital raised would be used to help it compete with Chinese web portals such as Sohu and Sina.com.   Kingsoft’s online games are based on themes of traditional Chinese myths and martial arts stories. Analysts estimated the online games market in the country to be worth 5 billion yuan in 2005, with 30% annual growth expected.
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