Shanda Interactive Entertainment Ltd. shares rose Wednesday after the company said it granted Zapak Digital Entertainment Ltd. an exclusive license to run its game "Crazy Kart" in India, which marks its entrance into that market.
The Shanghai-based online gaming company's American Depositary Shares climbed $1.81, or 6.9 percent, to $28.25. In the past year, the stock has traded between $22.12 and $40.71.
The game, which was developed by Shanda, is undergoing closed "beta" testing in India _ a testing period a game goes through before its official commercial release _ and is expected to start commercial operation in the second quarter.
Shanda said "Crazy Kart" had already been licensed for overseas operation in Hong Kong, Thailand and Vietnam.
"This marks another important milestone since we initiated our efforts to explore overseas opportunities last year," Shanda President and Chief Technical Officer Qunzhao Tan said in a statement.
Tan also said the company is "very optimistic about a long-term collaboration going forward."
Zapak is an Indian gaming company under Reliance ADA Group subsidiary Reliance Entertainment.
Terms & Conditions
RSS Headlines
Fool UK