Beijing-based Chinese online gaming developer Linekong Interactive Co., Ltd has filed for an initial public offering in Hong Kong’s Growth Enterprise Market (GEM) board, according to a securities filing.
The IPO size and other details are not disclosed.
IDG Capital also led US$10 million series A financing in the company in 2007.
Founded in 2007, Linekong says the net proceeds from the IPO will be used for developing and operating existing and new self-developed games and purchasing intellectual properties for popular entertainment franchises.
Part of the proceeds will also be used for possible acquisitions, according to the prospectus.
Linekong’s revenue for 2013 increased by 93.9% to RMB515.0 million from a year ago. Net profit for the first quarter of 2014 reached RMB72.4 million, against RMB399.4 million net loss during the same period the previous year.
Linekong publishes self-developed games and also licensed games from third-party developers under exclusive licenses. This April, it started to distribute their games through its subsidiary in South Korea.