Shanda Interactive, one of China’s largest media companies, has announced plans to take its eBook subsidiary, Cloudary Corp, public. Paperwork has bee filed, and is currently wending its way through the bowels of the SEC.
Cloudary Corp was founded in 2008 as Shanda Literature, and it currently consists of several literature websites as well as the Bambook eReader and eBookstore.
Shanda Interactive plans to remain the majority shareholder after the IPO. In related new, Shanda Interactive stock is up slightly on NASDAQ after the announcement.
via Shanda (PDF)