Giant Interactive to delist from NYSE

Giant Interactive Group will be China's first United States-listed online gaming company to go private, due to its low valuation on the New York Stock Exchange in contrast to the sector's popularity in the domestic capital market.

Giant Investment Ltd will acquire Giant Interactive Group for $3 billion and take it private, the US-listed company said on Monday.

Giant Investment adjusted its offer to $12 a share, an 18.5 percent premium to Giant Interactive's closing price on Nov 22, 2013, just before Giant Investment's bid.