(Yicai Global) Feb. 6 -- Online game developer Shanda Games Ltd. has brought tech titan Tencent Holdings Ltd. on board as an indirect shareholder as it formulates its equity structure before going public.
The Shanghai-based company's actual controller Shengyue Network Technology Shanghai Co. now lists Tencent as a shareholder and Ma Xiaoyi, a senior vice president at the Shenzhen-based firm, as a director, per data from the State Administration of Industry and Commerce, China's national corporate registry.
The two firms paired up last year when Tencent, the world's largest gaming company by revenue, distributed a range of Shanda's products.
Shanda has talked of going public ever since departing the Nasdaq in 2015, six years after its initial public offering. Chief Executive Xie Fei last mentioned the listing in a statement to media in April 2017.
The company became embroiled in a two-year equity battle after delisting, which Shengyue's parent Zhejiang Century Huatong Group Co. won. The victor now holds a 90-percent stake in Shanda and its CEO Wang Ji is also chairman of Shengyue.
Despite the clash, Shanda remains the third largest player in the Chinese gaming sector behind Tencent and Netease Inc. Its operating revenue closed in on CNY4 billion (USD637 million) in 2016 as net profit surpassed CNY1.6 billion.