The 10 Biggest Tech IPO Fails of All Time

Shanda Games

Went public: Sept. 23, 2009

In China, Shanda Games is praised as an online gaming juggernaut. So when it decided to make moves over to the states and go public, the company called in JP Morgan and Goldman Sachs to determine the number of shares it would sell and IPO price. Nearly $1 billion was raised, making it one of the biggest American IPOs at the time. The decision to raise the IPO rate would be a costly one, as the underwriters struggled to attract new investors to help fortify the price, watching its stock plunge from $12.50 to $1.75 the following day.

Tags: shanda_games
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