NETDRAGON Websoft Inc, an online game provider, plans to raise as much as HK$1.31 billion (US$169 Million) in an initial public offering on Hong Kong's Growth Enterprise Market, according to a sale document.

The company plans to sell 108 million shares at between HK$10.24 and HK$12.11 each, according to an e-mail sent to investors. Bear Stearns Cos and Cazenove Asia are arranging the share sale, the document said.