Interplay Scales Back Size of Pending IPO

Computer game maker Interplay Entertainment Corp. is sharply scaling back the size of its initial public stock offering. The Irvine-based company, which said in March that it hoped to raise about $72 million in a public stock sale, said it now plans to raise $27 million, according to documents filed with the Securities and Exchange Commission. The company said it expects to sell 5 million shares of common stock, down from the 6.25 million shares it originally planned to sell. The stock is expected to be priced at about $6 per share, according to the filing. Market watchers had expected Interplay to launch the public offering nearly two weeks ago. The delay reflects the difficult nature of the IPO market and the ongoing difficulties that other game makers have encountered on Wall Street. Interplay officials, who have not said when the company will launch the IPO, declined to comment.