GIC, better known as Government of Singapore Investment Corporation, has raised its stake in Shanda Games up to a tune of 10.3%, becoming one of the 3 biggest shareholders of the gaming and technology giant. The deal between the 2 companies started back in November 2009, when Shanda Games first got listed in North America’s Nasdaq, attracting GIC’s investment of around USD 47million. In February 2010, GIC increased its stake to 6.5%.
Shanda Games, as I reported previously, has set up its new headquarters in Singapore under the company name Shanda Games International, with plans to further reach out to North America and Europe regions. One of their most anticipated online games this year will be Dragon Nest Global.
Shanda Games is not the first gaming company the Singapore government has invested in, with the previous deal being Gazillion Entertainment who is the developer of Lego Universe Online.