Sohu’s gaming division Changyou.com is planning to file for an IPO. Changyou.com will trade under the NASDAQ with the symbol CYOU. Changyou.com will issue 7.5 million American depositary shares at about $14-$16 per share. The underwriters of Changyou.com are Credit Suisse and Merril Lynch.
Sohu recently had a reorganization and made the gaming division a separate unit. Changyou.com has a net income of $108 million on revenues of $202 million. Sohu will remain as the majority shareholder in Changyou.com even after the IPO. Changyou.com created a game called Tian Long Ba Bu and is also known as Blade Online. On April 1, Changyou.com will price the deal of the IPO.
[via Sohu PR]