Shanda prepares for listing of subsidiary

Holdfast, the entertainment platform for online game players that owned by Nasdaq-listed Shanda Interactive Entertainment Ltd., has appointed Liang Yonglun as CEO, and the company's former general manager will serve as COO.

Market speculations have it that Holdfast will be listing on A-share market and thus there is a need for Shanda to do well in platform and communities, and consolidate its business mode, which promises a better future for listing and affects the place of listing as well.

Shanda's investment in Holdfast is a long-term one and the CEO appointment is the beginning of a few years of preparations required for its future listing.

Shanda is a leading interactive entertainment media company in China and offers a range of internet-based entertainment services such as online role playing games (Massively Multiplayer Online Role-Playing Games, or “MMORPGs”), casual games, chess and board games, network PC games, cartoons, literature, and music.