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VCs May Purchase Up to USD 30 Mln of YY IPO

Tencent Tech, 11/16/12

YY Inc., operator of Chinese voice-chat SNS platform YY and online game portal Duowan, has announced that the company will begin trading on the Nasdaq exchange on November 21.

Editor's Note: YY noted in its revised IPO prospectus that, "Several of our existing shareholders and their affiliates, including Granite Global Ventures, Steamboat Ventures Asia and Morningside China TMT Fund, as defined in the "Principal Shareholders" section, have indicated to us their interest in purchasing up to an aggregate of USD 30.0 mln of ADSs offered in this offering at the initial public offering price and on the same terms as the other ADSs being offered in this offering." For more background on this topic, please see "Update: YY Sets IPO Share Price" MD 11/07/12 issue and "Update: YY Files IPO Prospectus for Nasdaq Listing" MD MM/DD/YY issue.

Keywords: wireless VC Internet IPO SNS Duowan Morningside Steamboat Ventures YY online gaming GGV Capital instant messaging

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