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.