Perfect World founder seeks to take the company private

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Perfect World may be going private in the future, if its founder and chairman of the board Michael Yufeng Chi has anything to say about it.

Chi submitted a proposal on December 31st of last year to buy up all remaining shares of the studio. He already owns some of the company's stocks, although it is unclear what percentage he has. The company has put together a committee to evaluate the proposal.

Perfect World is the Chinese parent company of North America's Perfect World Entertainment, which in turn oversees Cryptic Studios. It recently appointed Yunfan Zhang as its new COO.