Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Tudou to Raise USD 144 Mln in IPO

SEC, 8/03/11

Chinese online video site operator Tudou Holdings Limited has filed an amended IPO with the US Securities and Exchange Commission (SEC) stating it plans to raise approximately USD 143.5 mln, by issuing 6 mln American Depositary Shares (ADSs) representing 24 mln Class B ordinary shares at USD 28-30 per ADS on the Nasdaq Global Market under the symbol "TUDO." Tudou is offering 5,570,000 ADSs, and the selling shareholder is offering 430,000 ADSs. The underwriters have an option to purchase up to 900,000 additional ADSs from Tudou at the initial public offering price, less the underwriting discounts and commission, to cover over-allotments of ADSs.

Tudou said that approximately USD 60 mln of net proceeds from the offering will be used to fund content procurement and in-house content production, while another USD 30 mln will fund bandwidth capacity expansion. The balance will go towards working capital and general corporate purposes, including potential acquisitions, partnerships, alliances, and licensing opportunities.

To view Tudou's full amended IPO filing, please click here.

Keywords: Internet IPO Nasdaq online video Tudou TUDO

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports