Online gaming companies listed in the A-share market are popular with investors. For example, Ourplam Co Ltd closed at 33.42 yuan ($5.40) on Monday, up 208.9 percent from its IPO issue price in 2012.

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Bewinner Communications Co Ltd closed at 46.45 yuan, a 258 percent gain from its IPO price in 2007.

"The supply and demand relationship can explain Chinese online gaming companies' different treatment in the United States and China," said Meng Wei, an analyst at Orient Securities Co Ltd.

Meng said that in the US, there are many excellent listed technology, media and telecom companies, so Giant Interactive doesn't stand out.

But in China, it's different. Because of strict IPO review and approval processes, there are relatively few listed TMT companies of any kind, including online gaming companies, so investors will give them higher valuations, according to Meng.

US investors take a more "rational" view of listed online gaming companies, whose developers can't promise a steady stream of popular products, said Liu Chunhe, chief executive officer of Beijing-based New-born Town, a mobile Internet product developer and operator.

Liu said large online gaming companies such as Giant Interactive have strong potential in the emerging market of mobile games. If the company does list on the A-share market, its valuation should be high.

There are eight Chinese online gaming companies listed in the US. Among those, The9 Ltd began planning to go private in March last year, and Perfect World Co Ltd decided to pursue a privatization in December, according to China Business News.

At the same time as these companies are leaving the US equity markets, online gaming companies Beijing Chukong Technology Co Ltd, Beijing Locojoy Technology Co Ltd and Linekong Entertainment Technology Co Ltd are still planning IPOs in the US market, according to media reports.

"As it's faster and easier to list in the US, it is still attractive for Chinese high-growth companies," said Che.

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