VC-backed Chukong files for US IPO

Pricing terms have yet to be disclosed.

According to a regulatory filing, Nothern Light Venture Capital owns 23.7% of the company, while Steamboat Ventures owns 12.6%. GGV Capital and Sequoia Capital have 12.5% and 8.9%, respectively. New Horizon Capital owns 7.7%, having led a $50 million Series D round of funding in October.

Set up in 2010, Beijing-headquartered Chukong develops and publishes mobile games under the Coco (formerly PunchBox) brand. It has a total of 98 games, including 16 self-developed and 82 licensed titles. Among the firm's most popular game franchises is Fishing Joy, a deep sea fishing game.

The business - which has offices in Japan, South Korea, Taiwan and the US - works as local publishing partner to developers such as Gameloft, Nexon, Disney, Gamevil, and Konami under its CocoaChina brand. It also sponsors and manages Cocos2D-x, widely used open source 2D game engine used by developers.

The company reported a RMB88.3 million ($14.6 million) net loss last year, compared to losses of RMB52.1 million and RMB28.9 million in 2012 and 2011, respectively.

Morgan Stanley, Deutsche Bank and China Renaissance Securities are serving as lead underwriters for the IPO

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• Topics
• Greater China
• Exits
• Technology
• USA
• China
• Northern Light Venture Capital
• GGV Capital
• Exit
• TMT
• Sequoia Capital
• New Horizon Capital
• IPO