Giant Interactive Shareholder Cashes Out

With their stock trading near a 52-week high, and up 61% from a year ago, a Giant Interactive Group (UNKNOWN: GA.DL  ) insider is cashing out at the top.

On Wednesday, Giant announced that Vogel Holding Group Limited, an affiliate of its chairman, Yuzhu Shi, intends to sell 15.1 million American depositary shares of Giant stock in a public offering. An overallotment option may trigger an additional 2.3 million shares being brought to market, also coming out of Vogel's holdings.

No specific offering price has been named, but with one ADS representing one share of common stock, at Wednesday's closing price of $7.55 per ADS, the offering promises to gross more than $131 million for Vogel. Giant itself will collect no money from this offering.

Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2474522, ~/Articles/ArticleHandler.aspx, 8/27/2016 5:56:16 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 8 hours ago Sponsored by:
DOW 18,395.40 -53.01 -0.29%
S&P 500 2,169.04 -3.43 -0.16%
NASD 5,218.92 6.71 0.13%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
GA.DL $0.00 Down +0.00 +0.00%
Giant Interactive… CAPS Rating: ***