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Perfect World Founder Considering Stock Buyout

Posted Jan 05, 2015 by Suzie Ford

Perfect World Founder Considering Stock Buyout

Perfect World Entertainment's Founder and Chairman of the Board, Michael Yufeng Chi, has submitted a proposal to buy out all shares of the gaming company's stock in a privatization effort. All outstanding shares would be purchased for for $20 per American Depositary Share or $4 per ordinary share in cash according to a write up at GamesIndustry.biz.

At this stage, there is no indication that the committee will act on Chi's non-binding proposal, and the company's shareholders have been advised not to trade in their securities.

Perfect World has also appointed a new COO: Yunfan Zhang, who joined the company as vice president of its mobile games publishing business in February 2013.

Read more at the link above.

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Suzie Ford / Suzie is the Associate Editor and News Manager at MMORPG.com. Follow her on Twitter @MMORPGMom

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