Tudou's IPO fully subscribed
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Agencies via China Daily, August 15, 2011
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Tudou.com hopes to net an estimated US$143.5 million with the offering, which will sell 6 million American depository shares for an estimated $28 to $30 each, according to filings with the U.S. Securities and Exchange Commission. |
An initial public offering by China's Tudou, which is looking to raise $180 million on the Nasdaq, was multiple times subscribed, IFR reported on Monday.
Tudou, China's second largest online video website, saw its IPO plans stalled last year due to a lawsuit brought on by the firm's chief executive's former wife.
The offering was multiple times covered and orders came from a good mix of hedge funds and long-only investors in both the United States and Asia, two sources told IFR, a Thomson Reuters publication.
Tudou intends to offer 6 million American Depositary Shares for $28-$30 each in its Nasdaq IPO.
Pricing is slated for Aug 16. Credit Suisse, Oppenheimer & Co and Deutsche Bank Securities are the underwriters for the deal.
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