The game producer's Shanghai Stock Exchange flotation has provided exits to shareholders including IDG Capital Partners and Ping An Insurance.
China-based, corporate-backed online gaming company G-bits Network Technology has completed an initial public offering on the Shanghai Stock Exchange, securing RMB961m ($138m), China Money Network reported on Wednesday.
The flotation, which valued the company at $791m, provided an exit to Ping An Ventures, the corporate venturing arm of insurance company Ping An Insurance, and IDG Capital Partners, a venture capital affiliate of technology research company International Data Group.
Established in 2004, G-bits has created a range of virtual reality and…
